If $197 is deposited in a savings account at the beginning of each year for 12 years and the account draws interest at 7% per year, compounded annually, the value of the account at the end of 12 years will be most nearly.

If $197 is deposited in a savings account at the beginning of each year for 12 years and the account draws interest at 7% per year, compounded annually, the value of the account at the end of 12 years will be most nearly.

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)

5th Edition

ISBN:9781305084766

Author:Saeed Moaveni

Publisher:Saeed Moaveni

Chapter20: Engineering Economics

Section: Chapter Questions

Problem 22P

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Correct Answer:	3,771 ± 1

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