10. You deposit $10,000 into an account. Five years later you make annual deposits of $1,000 into the account at the beginning of each year for 10 years. Assuming the account has an annual effective interest rate of i = 4%, find the amount in the account at the end of the 15th year. (A) $30,495.79 (B) $30,575.63 (C) $31,275.63 (D) $31,875.63 (E) $32,275.63 (F) $33,275.63

10. You deposit $10,000 into an account. Five years later you make annual deposits of $1,000 into the account at the beginning of each year for 10 years. Assuming the account has an annual effective interest rate of i = 4%, find the amount in the account at the end of the 15th year. (A) $30,495.79 (B) $30,575.63 (C) $31,275.63 (D) $31,875.63 (E) $32,275.63 (F) $33,275.63

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 36P

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