Lecture Notes on Time Value of Money
In the first problem t refers to years and i refers to interest rate per year. In the second problem t refer to quarters and i to interest rate per quarter. FVt = PV x (1+i)t. t = number of periods . i = interest for the period. Alternatively, FVt(m = PV x (1+i/m)t(m. m= periods per year, t= number of years, i = the interest per year [APR ... ................
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