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What is the future value in six years

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What is the future value in six years of $1,000 invested in an accountwith a stated annual interest rate of 9 percent, (P: $1000, r : 0.09, Y: 6 years)

a. Compounded annually?

b. Compounded semiannually?

c. Compounded monthly?

d. Compounded continuously?

e. Why does the future value increase as the compounding period shortens?

Reference no: EM132507498

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