A) calculate the amount of money you will have after 25 years if you deposit $150 each month in an account that earns an annual rate of 7%. Round to the nearest cent, if necessary. Excel Formula: Your answer: B.) How much more did you save compared with just sticking the moey in a safe at home each month?
A) calculate the amount of money you will have after 25 years if you deposit $150 each month in an account that earns an annual rate of 7%. Round to the nearest cent, if necessary. Excel Formula: Your answer: B.) How much more did you save compared with just sticking the moey in a safe at home each month?
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter4: Managing Your Cash And Savings
Section: Chapter Questions
Problem 7FPE: Calculating interest earned and future value of savings account. If you put 6,000 in a savings...
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A) calculate the amount of money you will have after 25 years if you deposit $150 each month in an account that earns an annual rate of 7%. Round to the nearest cent, if necessary.
Excel Formula:
Your answer:
B.) How much more did you save compared with just sticking the moey in a safe at home each month?
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