Answered: Hayley invested $18,500.00 into an…

Hayley invested $18,500.00 into an account paying a ridiculous 9.5% compounded quarterly. How much money will be in the account after 51 months? Round your final answer to the nearest cent. S

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 25P

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Concept explainers

Stock Market Indices

Stock indexes are used to compare the price fluctuations of a group of stocks of similar companies, which are combined based on a similar industry or a particular market capitalization limit or type of market. The price comparison is based on a pre-determined standard method or indicators. These stock indexes are usually considered a base for comparison of a particular stock, and the performance of that particular company can be easily determined.

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Hayley invested $18,500.00 into an account paying a
ridiculous 9.5% compounded quarterly. How much money will
be in the account after 51 months? Round your final answer to
the nearest cent.

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