2006-12-09 03:00:01 · 5 answers · asked by Marsh 1944 1 in Business & Finance ➔ Investing
n=240
i/y=.08/12
pv=714,246.9795
pmt=3000
fv=0
2006-12-09 03:07:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Does the return consist of interest only (ie your principal never decreases) or does it include some return of capital (some of the 3000 will come from the principal) Big difference.
2006-12-09 12:31:23 · answer #2 · answered by Michaelsgdec 5 · 0⤊ 0⤋
It depends on whether the interest is simple or compounded. If it's simple then it's just (3000)*1.08*20. If it is compounded, visit this link and it will give you the answer:
http://www.moneychimp.com/articles/finworks/fmfutval.htm
2006-12-09 11:55:16 · answer #3 · answered by euclidjr 2 · 0⤊ 0⤋
by multiplying .08 x $3000 and then multiplying that result by 240.
2006-12-09 11:08:46 · answer #4 · answered by Mike 1 2 · 0⤊ 0⤋
Is the interest compounded or simple?
2006-12-09 17:46:11 · answer #5 · answered by sis79 2 · 0⤊ 0⤋