If you invested $10 000 when you turned 20 years of age and received a return of 11 percent annually,you would have over two million dollars when you turned 70.
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Q4: Present value of the first year is
Q5: Compound interest means earning interest on interest.
Q6: The nominal interest rate is also called
Q7: The effective interest rate is the stated
Q8: Jill will have reached her goal of
Q10: The effective rate of interest and compounding
Q11: The longer the time period,the higher the
Q12: The higher the interest rate,the lower the
Q13: The concept of time value of money
Q14: The shorter the time period,the lower the
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