Suppose you save $4,000 per year at the beginning of each year for 3 years and earn 5% interest per year. How much will you have at the end of 3 years? Suppose you save $4,000 per year at the beginning of each year for 10 years and earn 8.5% interest per year. How much will you have at the end of 10 years?

Suppose you save $4,000 per year at the beginning of each year for 3 years and earn 5% interest per year. How much will you have at the end of 3 years? Suppose you save $4,000 per year at the beginning of each year for 10 years and earn 8.5% interest per year. How much will you have at the end of 10 years?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 35P

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