Recalculate parts a and for an apr of 8 percent

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Calculate the future sum of ?$1,000?, given that it will be held in the bank for 10 years at an APR of 4 percent.

Recalculate part using compounding periods that are? (1) semiannual and? (2) bimonthly? (every two? months).

Recalculate parts a and for an APR of 8 percent.

Recalculate part a using a time horizon of 20 years? (the APR is still 4 ?percent).

With respect to the effect of changes in the stated interest rate and holding periods on future sums in parts c and ?, what conclusions do you draw when you compare these figures with the answers found in parts and??

Reference no: EM132819873

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