Mr. N wants to deposit an amount of $7,500 in savings account every year for 20 years. The savings account pays an annual interest of 5% per annum. What will be the balance at the end of 20th year? $248,636.91 $530,382.58 $255,400.72 $247,994.66
Mr. N wants to deposit an amount of $7,500 in savings account every year for 20 years. The savings account pays an annual interest of 5% per annum. What will be the balance at the end of 20th year? $248,636.91 $530,382.58 $255,400.72 $247,994.66
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
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