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future and present value calculation?
question:
At the end of a five-year period, the difference (absolute value) between the future value of $2656 invested at 4.25% p.a. simple interest and $2656 invested at 4.25% p.a. compounded annually interest will be? \
1 Answer
- BrambleLv 75 years agoFavorite Answer
2656×[(1.0425)⁵ - (1+5×0.0425)] = $50.06 in favour of the compounded interest.
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