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How much must a person put into the bank today

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Reference no: EM132589334

Question 1. If a person deposits $22000 in the bank today, what will the money be worth in 5 years at 11% if it's

a. compounded semi-annually
b. compounded quarterly; and
c. compounded annually...
d. Compare and analyse which type of interest has greater return on investment

Question 2. How much must a person put into the bank today if he wants $50,000 in 5 years at 6% compounded

a. Annually
b. semi-annually

Reference no: EM132589334

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