4. An account earns 10% interest annually. $2,000 is deposited into that account today, at the end of 5th year another 2000 is deposited into the account and additionally monthly deposits of $300 is made into that account. How much is accumulated into that account at the end of 10 years?

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
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4. An account earns 10% interest annually. $2,000 is deposited into that account today, at the end
of 5th year another 2000 is deposited into the account and additionally monthly deposits of $300
is made into that account. How much is accumulated into that account at the end of 10 years?
Transcribed Image Text:4. An account earns 10% interest annually. $2,000 is deposited into that account today, at the end of 5th year another 2000 is deposited into the account and additionally monthly deposits of $300 is made into that account. How much is accumulated into that account at the end of 10 years?
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