Twelve years ago, you deposited RM3,400 into an account. Seven years ago, you added an additional RM1,000 to this account. You earned 8 percent, compounded annually, for the first 5 years and 5.5 percent, compounded annually, for the last 7 years. How much money do you have in your account today?
Twelve years ago, you deposited RM3,400 into an account. Seven years ago, you added an additional RM1,000 to this account. You earned 8 percent, compounded annually, for the first 5 years and 5.5 percent, compounded annually, for the last 7 years. How much money do you have in your account today?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 10PROB
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