At age 18, Marcia started depositing $2000 per year at the end of each year into an account earning 12% annually. She did this for 8 years and then stopped. After that, she left the money in the account and it continued earning 12% interest compounded annually. How much money did she have at age 65?

At age 18, Marcia started depositing $2000 per year at the end of each year into an account earning 12% annually. She did this for 8 years and then stopped. After that, she left the money in the account and it continued earning 12% interest compounded annually. How much money did she have at age 65?

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 6E

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