How much would you need to deposit in an account now in order to have $2000 in the account in 15 years? Assume the account earns 2% interest compounded annually. Round your answer to the nearest cent. (Note: this is a one-time deposit, not an annual deposit.)

How much would you need to deposit in an account now in order to have $2000 in the account in 15 years? Assume the account earns 2% interest compounded annually. Round your answer to the nearest cent. (Note: this is a one-time deposit, not an annual deposit.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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