anonymous
  • anonymous
A client wins $500,000 in the lottery, he wants to invest 6% compounded interest quarterly for 5 years, what would that be?
Finance
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anonymous
  • anonymous
A client wins $500,000 in the lottery, he wants to invest 6% compounded interest quarterly for 5 years, what would that be?
Finance
schrodinger
  • schrodinger
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At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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anonymous
  • anonymous
since 6% is quarterly interest, the yearly interest is 6%*4, and it is compounded interest, therefore, after 5 years, total return will be 500000*(1+6%*4)^5=1465812.531

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