Mathematics, 17.04.2020 00:20 maddyr04
If an account is increasing at a rate of 2.1% compounded monthly, what is the exact value of i in the following future value ordinary annuity formula?
F V = P (StartFraction (1 + i) superscript n Baseline minus 1 over i EndFraction)
a.
2.1
b.
StartFraction 0.021 over 100 EndFraction
c.
StartFraction 0.021 over 12 EndFraction
d.
StartFraction 0.21 over 12 Endfraction
Answers: 2
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If an account is increasing at a rate of 2.1% compounded monthly, what is the exact value of i in th...
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