Answered: 1. You deposited $1000 into a savings…

1. You deposited $1000 into a savings plan at the end of each year for 3 years. The rathe is 8% per year compounded annually. a. Find the value of the annuity after 3 years. b. Find the interest.

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.17E

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UNIT TEST V:
1. You deposited $1000 into a savings plan at the end of each year for 3 years. The
rathe is 8% per year compounded annually.
Find the value of the annuity after 3 years.
b. Find the interest.

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