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18 July, 16:28

Using the tables presented in your reading material, find the maturity value of $1 at a compound interest rate of 9% over 4 periods.

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  1. 18 July, 16:35
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    Maturity value of 1 dollar with 9% interest rate over 4 periods.

    => 1 dollar *.09 = 0.0081 dollar

    => 1 dollar + 0.0081 dollar = 1.0081 dollars

    2nd period

    => 1.0081 dollar *.09 = 0.090729 dollar

    => 1.0081 dollars + 0.090729 dollar = 1.098829 dollars

    3rd period

    => 1.098829 *.09 = 0.09889461 dollars

    => 1.098829 + 0.09889461 dollars = 1.19772361 dollars

    4th period

    => 1.19772361 dollars *.09 = 0.1077951249 dollars

    => 1.19772361 dollars + 0.1077951249 dollars = 1.3055187349 dollars or 1.31 dollars.
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