100 invested at a rate of 5% for 10 years has the same future value as $100 invested at 10% compounded annually for 5 years
Indicate whether the statement is true or false.
Answer: FALSE
Explanation: $100 ∗ (1.10)5 = $161.05, but $100 ∗ (1.05)10 = $162.89
MODE = END
INPUT 5 10 -100 0 ?
KEY N I/Y PV PMT FV
CPT 161.05
MODE = END
INPUT 10 5 -100 0 ?
KEY N I/Y PV PMT FV
CPT 162.89
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