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Setler [38]
3 years ago
9

If you invest $15,000 today at a 6% interest compounded daily, what will be your ending value after 12 years?

Business
1 answer:
True [87]3 years ago
4 0

Answer:

Amount after 12 year will be $30762.16

Explanation:

We have given amount invested = $15000

Rate of interest r = 6 %

Time t = 12 years

As investment is compounded daily

So rate of interest =\frac{6}{365}=0.0164 %

As 1 year = 365 days

So 12 year = 12×365 = 4380 days

We know that future value is given by

A=P(1+\frac{r}{100})^n

So A=15000\times (1+\frac{0.0164}{100})^{4380}=30762.958$

So amount after 12 year will be $30762.16

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Answer:

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Explanation:

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Expenditure multiplier = Change in real GDP / Change in spending

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Expenditure multiplier = 1.5

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Genrish500 [490]

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