Ask Question
22 July, 02:07

You have an investment that will pay you. 67 percent per month. a. How much will you have per dollar invested in one year? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.) b. How much will you have per dollar invested in two years? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

+4
Answers (1)
  1. 22 July, 05:15
    0
    Results are below.

    Explanation:

    Giving the following information:

    You have an investment that will pay you. 67 percent per month.

    Interest rate = 0.67/100 = 0.0067

    We need to use the following formula:

    FV = PV * (1+i) ^n

    In one year, we will have:

    FV = 1 * (1.0067^12)

    FV = $1.08

    In two years:

    FV = 1 * (1.0067^24)

    FV = $1.17
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You have an investment that will pay you. 67 percent per month. a. How much will you have per dollar invested in one year? (Do not round ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers