Exactly six years ago, Jay started investing $10,500 per year in an account that earned 5.00% p.a. He just switched to a fund that will pay 6.00% p.a. If Jay continues to deposit $10,500 per year, how much will he have in his account exactly seven years from today?
Exactly six years ago, Jay started investing $10,500 per year in an account that earned 5.00% p.a. He just switched to a fund that will pay 6.00% p.a. If Jay continues to deposit $10,500 per year, how much will he have in his account exactly seven years from today?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 14P
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Exactly six years ago, Jay started investing $10,500 per year in an account that earned 5.00% p.a. He just switched to a fund that will pay 6.00% p.a. If Jay continues to deposit $10,500 per year, how much will he have in his account exactly seven years from today?
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