Fifteen years ago, you deposited $15,400 into an account. Eight years ago, you added an additional $6,000 to this account. You earned 10 percent, compounded annually, for the first 7 years and 6.5 percent, compounded annually, for the last 8 years. How much money do you have in your account today?
Fifteen years ago, you deposited $15,400 into an account. Eight years ago, you added an additional $6,000 to this account. You earned 10 percent, compounded annually, for the first 7 years and 6.5 percent, compounded annually, for the last 8 years. How much money do you have in your account today?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 18PROB
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Fifteen years ago, you deposited $15,400 into an account. Eight years ago, you added an additional $6,000 to this account. You earned 10 percent, compounded annually, for the first 7 years and 6.5 percent, compounded annually, for the last 8 years. How much money do you have in your account today?
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