Answered: You put $1,000 in an account that earns…

You put $1,000 in an account that earns 9% annual interest every year for 7 years, then leave the account alone to earn interest for 4 years. After that time, how much money is in the account?

Fundamentals of Financial Management (MindTap Course List)

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter12: Cash Flow Estimation And Risk Analysis

Section: Chapter Questions

Problem 16P: REPLACEMENT CHAIN The Lesseig Company has an opportunity to invest in one of two mutually exclusive...

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I have gotten $7083.21 and $7104.42 and both were incorrect

#2
X Incorrect
You put $1,000 in an account that
earns 9% annual interest every
year for 7 years, then leave the
account alone to earn interest for
4 years. After that time, how
much money is in the account?
?
7104.42 x
Submitted
Enter a different answer to resubn

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