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Value of Investment When Interest is Compounded

1. If a nurse deposits $1,000 today in a bank account and the interest is compounded annually at 12%, what will be the value of this investment:

a) five years from now?
b) ten years from now?
c) fifteen years from now?
d) twenty years from now?

Solution Summary

The attached MS Excel spreadsheet contains detailed instructions for calculating the value of an investment when the applied interest is compounded,