Compute the future value in year 8 of a $2,300 deposit in year 1, and another $1,800

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Compute the future value in year 8 of a $2,300 deposit in year 1, and another $1,800 deposit at the end of year 3 using a 10 percent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Posted Date: May 03, 2024 12:49 AM

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Compute the future value in year 8 of a $2,300 deposit in year 1, and another $1,800

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Expert Answer:

To calculate the future value of the deposits we can use the formula for compound interest FV PV1 rn ... View the full answer

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