Bob deposits the amount of $ 100 in his bank account today, and plans to deposit the
Question:
Bob deposits the amount of $100 in his bank account today, and plans to deposit the amount of $175 in the same account one year from today, and finally plans to deposit the amount of $225 in the same account two years from now. If the interest rate is 8.55%, how much will Bob have accumulated in his account three years from today?
$______________________________
You should set your calculator for at least four decimal places of accuracy. I'll remind you of this from time to time but this is a working rule throughout the semester.
Place your answer in dollars and cents.
Do not include a dollar sign or comma in your answer. This is another rule that I'll remind you of but should be a working rule throughout the semester.
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones