Question : Time Value Of Money John will receive 5000 in one year from now ,...
Question : Time Value Of Money
John will receive 5000 in one year from now , Once he gets that money he wants to put it into a 12 year savings scheme which would give him a rate of 7% for 12 years
What is going to be the amount that John .will receive from this 12 year savings plan?
Homework Answers
| $11,260.96 | |
| Statement showing Computations | |
| Particulars | Amount |
| Amount to be received after 1 year | 5,000.00 |
| Time in years | 12.00 |
| Rate of interest | 7% |
| amount that John .will receive from this 12 year savings plan = 5000 (1.07)^12 | 11,260.96 |
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Question : Time Value Of Money
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