What is the future worth of a series of equal year-end deposits of $3,000 for 15 years in a savings account that earns 9% annual interest if the following were true? a. All deposits are made at the end of each year? b. All deposits are made at the beginning of each year?

What is the future worth of a series of equal year-end deposits of $3,000 for 15 years in a savings account that earns 9% annual interest if the following were true? a. All deposits are made at the end of each year? b. All deposits are made at the beginning of each year?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 16PROB

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What is the future worth of a series of equal year-end deposits of $3,000 for 15 years in a savings account that earns 9% annual interest if the following were true?

a. All deposits are made at the end of each year?

b. All deposits are made at the beginning of each year?

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