N order to buy a new car, X plans to save half of his annual salary of 100,000 at the end of each year for the next 10 years which pays 12% rate interest. How much will be his account after 10 years?
N order to buy a new car, X plans to save half of his annual salary of 100,000 at the end of each year for the next 10 years which pays 12% rate interest. How much will be his account after 10 years?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 14E
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Question
IN order to buy a new car, X plans to save half of his annual salary of 100,000 at the end of each year for the next 10 years which pays 12% rate interest. How much will be his account after 10 years?
• 982,729
• 565,022
• 1,754,874
• 877,436
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