Time Value of Money

Essay specific features

 

Issue:

Business

 

Written by:

Linh H

 

Date added:

December 21, 2016

 

Level:

College

 

Grade:

A

 

No of pages / words:

1 / 228

 

Was viewed:

3553 times

 

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Essay content:

If the interest is higher then the faster your money will grow if left in a savings account. (Brealy, Myers, Marcus, 2003) There is a famous example of the power of compound interest, which is the sale of Manhattan Island. (p.70). Peter Minuit bought the island in 1626 for $24. Based on real estate values in New York today, this was an amazing deal...
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(p.70). Peter Minuit bought the island in 1626 for $24. Based on real estate values in New York today, this was an amazing deal. $24 invested for 377 years at an 8% interest rate is around $95 trillion. Compound growth means that value increases each period by factor. When money is invested in at compound interest, the growth is in the interest rate...
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