Select your language

Suggested languages for you:
Log In Start studying!
Answers without the blur. Just sign up for free and you're in → Illustration

Question

Expert-verified
Foundations Of Financial Management
Found in: Page 281
Foundations Of Financial Management

Foundations Of Financial Management

Book edition 16th
Author(s) Stanley B. Block, Geoffrey A. Hirt, Bartley Danielsen
Pages 768 pages
ISBN 9781259277160

Short Answer

You invest $3,000 for three years at 12 percent.

a. What is the value of your investment after one year?

Answer

The value of investment after one year is $3,360.

See the step by step solution

Step by Step Solution

Step 1: Identification of the required information

Present value (PV) = $3,000

Interest Rate (i) = 12%

Period (n) = 1 year

Step 2: Value of investment after one year (FV)

Recommended explanations on Business-studies Textbooks

94% of StudySmarter users get better grades.

Sign up for free
94% of StudySmarter users get better grades.