Asked by Tracey
Solve the following by using the present value formula.
Compound Amount- $700
Time Period(years)-8 years
Nominal Rate (%)- 1.5
Interest Compounded monthly
Compound Amount___________?
Compound Interest _________?
Compound Amount- $700
Time Period(years)-8 years
Nominal Rate (%)- 1.5
Interest Compounded monthly
Compound Amount___________?
Compound Interest _________?
Answers
Answered by
Steve
so, do you have the formula? Can you plug in your numbers?
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