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Q4An amount of $1,500 is invested for 5 years at the ra

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 18E

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Q4An amount of $1,500 is invested for 5 years at the rates of 2% for the first two years, 5% for the third year and 6% for the fourth and fifth years all compounded annually. What is the total amount at the end of the 5 years?

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