Mr. Short did a deposit of 100,000 USD in his bank account 10 years ago. Ever since

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Mr. Short did a deposit of 100,000 USD in his bank account 10 years ago. Ever since then, Mr. Short has deposited 5,000 USD 5 years ago, 6.000 USD 4 years ago and 7.000 USD 3 years ago.

What is the current balance of his account assuming the bank has been paying 2% of interest every year?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Oct 26, 2023 12:21 AM

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Mr. Short did a deposit of 100,000 USD in his bank account 10 years ago. Ever since

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To calculate Mr Shorts current balance we need to take into account the initial deposit the addition... View the full answer

Income Tax Fundamentals 2013

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