Answered: If you deposit #9989 into an account…

If you deposit #9989 into an account paying 3.6% annual interest compounded monthly, how much money will be in the account after 8 years? Round your answer to 2 decimal places.

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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If you deposit #9989 into an account paying 3.6% annual interest compounded monthly, how much money will be in the account
after 8 years?
Round your answer to 2 decimal places.

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