Answered: Every year for 10 years starting year…

Every year for 10 years starting year 3, you deposit $1000 in a savings account that earns 7% yearly. What is the present value of this series? 6,134.67 7,023.58 36,436.26 70,893.54

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 5Q: If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the...

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Question

Every year for 10 years starting year 3, you deposit $1000 in a savings account that earns 7% yearly. What is the present value of this series?

6,134.67

7,023.58

36,436.26

70,893.54

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