investment banker recommends that you place deposits of $5000 now and $7000 five years from now into an aggressive growth fund of international IT corporate stocks that is expected to return 8% per year compounded quarterly. If you do and it performs as

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 46P
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An investment banker recommends that you place deposits of $5000 now and
$7000 five years from now into an aggressive growth fund of international IT
corporate stocks that is expected to return 8% per year compounded quarterly. If
you do and it performs as expected, how much will you have accumulated after
12 years? Solve using (a) factors and (b) spreadsheet functions, as instructed. 

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