Finance: Future Value Use the equation from Exercises 71 and 72 to calculate the
Chapter 6, Problem 73(choose chapter or problem)
Finance: Future Value Use the equation from Exercises 71 and 72 to calculate the following. (Source: Adapted from Garman/Forgue, Personal Finance, Fifth Edition) (a) The future value of $1200 saved each year for 10 years earning 7% interest. (b) A person who wishes to invest $1200 each year finds one investment choice that is expected to pay 9% interest per year and another, riskier choice that may pay 10% interest per year. What is the difference in return (future value) if the investment is made for 15 years?
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