Determine the accumulated value after 11 years of deposits of $278.00 made at the beginning of every year and earning interest at 5%, with the payment and compounding intervals the same. The accumulated value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Determine the accumulated value after 11 years of deposits of $278.00 made at the beginning of every year and earning interest at 5%, with the payment and compounding intervals the same. The accumulated value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 26P
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