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Calculate the future value of $1,000,000 when it is invested for 5 years at an interest rate of 5% under the following assumptions:

a. Interest is compounded annually.

b. Interest is compounded semiannually.

c. Interest is compounded quarterly.

d. Interest is compounded continuously.

What are your observations?

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M9209443

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