What is the future worth of a series of equalyear-end deposits of $5,000 for 12 years in a savingsaccount that earns 8% annual interest if the followingwere true?(a) All deposits are made at the end of each year.(b) All deposits are made at the beginning of eachyear.

What is the future worth of a series of equalyear-end deposits of $5,000 for 12 years in a savingsaccount that earns 8% annual interest if the followingwere true?(a) All deposits are made at the end of each year.(b) All deposits are made at the beginning of eachyear.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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Question

What is the future worth of a series of equal
year-end deposits of $5,000 for 12 years in a savings
account that earns 8% 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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