You will be able to deposit $4,000 at the end of each of the next 5 years in a bank account paying 8% interest per year compounded annually. You currently have $6,375 in the account. Assuming no other deposits or withdrawals, how much will you have in your account after 7 years from now? 1. c $39,966.43 2. $46,616.84 $32,833.37 3. 4. c $38.296.84 NONEZ
You will be able to deposit $4,000 at the end of each of the next 5 years in a bank account paying 8% interest per year compounded annually. You currently have $6,375 in the account. Assuming no other deposits or withdrawals, how much will you have in your account after 7 years from now? 1. c $39,966.43 2. $46,616.84 $32,833.37 3. 4. c $38.296.84 NONEZ
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 16PROB
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