QNM106 Chapter 2: Wk 02 9.2 MBF-3E-09-02-Calculating_Future_Value

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Published on 23 Jan 2020
School
Seneca College
Department
QNM
Course
QNM106
If you are asked to find the accumulated value of an investment, you
need to calculate the:
Interest accumulated over the period.
Present value of the investment.
Future value of the investment.
Present value or future value depending on the data provided.
ABC Mobile invested $500 for 3 years at 4.8% compounded annually.
ABC Mobile invested $500 for 3 years at 4.8% compounded annually.
EazyGo Travel Inc. invested $120,000 in an investment fund at 12%
compounded quarterly for 6 years and 8 months.
(i) What was the accumulated value of the investment at the end of the
term?
(ii) How much interest was earned over the time period?
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