Explore BrainMass

Future Value

Low Martian wants to invest $2,500,000 from his Chicago Bulls contract. He has found an investment that will pay 14%. He is not sure of the compounding periods, however. He has asked you to calculate how much he would have after five years if the compounding is done monthly?

Solution Preview

Alll you need to do is to find the future value of 2, 500, 000. ...