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Business

Accounting

What is the value of the account at the end of 9 years?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 11PROB

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Question

The owner of Sebastopol Tree Farm deposits $400 at the end of each quarter into an account paying 5% compounded quarterly. What is the value of the account at the end of 9 years?

Please round the answer to the nearest cent.

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