How much would they earned with shorter compounding period


Assignment task: Anthony and Michelle Constantino just got married and received $34,000 in cash gifts for their wedding. How much will they have on their 25th anniversary if they place half of this money in a fixed-rate investment earning 6 percent com- pounded annually? Would the future value be larger or smaller if the compounding period were 6 months? How much more or less would they have earned with this shorter compounding period?

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Finance Basics: How much would they earned with shorter compounding period
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