You plan to deposit $700 in a bank account now and $100 at the end of the year. If the account earns 7% interest per year, what will be the balance in the account right after you make the second deposit?

You plan to deposit $700 in a bank account now and $100 at the end of the year. If the account earns 7% interest per year, what will be the balance in the account right after you make the second deposit?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 16PROB

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K
You plan to deposit $700 in a bank account now and $100 at the end of the year. If the account earns 7% interest per
year, what will be the balance in the account right after you make the second deposit?
...
The balance in the account right after you make the second deposit will be $
(Round to the nearest dollar.)

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