3- Suppose that $2700 is deposited in an account that earns 4% interest. How much is in the account 18 (a) after 5 years? (b) after 10 years? (c) after 20 years? (d) after 50 years? (e) after 100 years?

3- Suppose that $2700 is deposited in an account that earns 4% interest. How much is in the account 18 (a) after 5 years? (b) after 10 years? (c) after 20 years? (d) after 50 years? (e) after 100 years?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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Question

3- Suppose that $2700 is deposited in an account that earns 4% interest. How much is in the account
18
(a) after 5 years?
(b) after 10 years?
(c) after 20 years?
(d) after 50 years?
(e) after 100 years?

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