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What will the investment be worth in twenty-one months

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Reference no: EM132910567

Problem 1: If you put $700 in a savings account with a 10% nominal rate of interest compounded monthly, what will the investment be worth in 21 months (round to the nearest dollar)?

Problem 2: Today, you are investing $25,000 at 6%, compounded monthly, for 10 years. How much additional income could you earn if you could have invested this amount at 7%, compounded monthly?

Problem 3: A Max, Inc. deposited $2,000 in a bank account that pays 12% interest annually.What will the dollar amount be in four years?

Reference no: EM132910567

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