In 2003 your parents put 16 million HUF aside for you to help you buy your first apartment. They invested in a fund that promised a return 10.0% yearly, but they have not kept an eye on the fund's performance. It is 2022 today. 1. How much money do you expect your parents to give you today if they liquidate the investment? million HUF 2. You look at the account statement, and are surprised to find that only 48.93 million HUF is in the account. How much was the actual compound annual growth rate of the fund?

In 2003 your parents put 16 million HUF aside for you to help you buy your first apartment. They invested in a fund that promised a return 10.0% yearly, but they have not kept an eye on the fund's performance. It is 2022 today. 1. How much money do you expect your parents to give you today if they liquidate the investment? million HUF 2. You look at the account statement, and are surprised to find that only 48.93 million HUF is in the account. How much was the actual compound annual growth rate of the fund?

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 10E

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