At age 18, Susan did nothing. She waited until she was 28 to start depositing $2000 per year at the end of each year into an account earning 12% annually. She did this each year until she turned 65. How much money did she have at age 65?
At age 18, Susan did nothing. She waited until she was 28 to start depositing $2000 per year at the end of each year into an account earning 12% annually. She did this each year until she turned 65. How much money did she have at age 65?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 13E
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At age 18, Susan did nothing. She waited until she was 28 to start depositing $2000 per year at the end of each year into an account earning 12% annually. She did this each year until she turned 65. How much money did she have at age 65?
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