Suppose you invest $1000 per year in a savings account starting one year from today and ending 20 years from today, that is, you make your first deposit EOY 1 and your last deposit EOY 20. In addition to these regular deposits, you also make a one time deposit of $10,000 today (i.e., at EOY 0). If the interest rate on your savings account is 3%, the balance of your account at EOY 20 is closest to: Suppose you invest $1000 per year in a savings account starting one year from today and ending 20 years from today, that is, you make your first deposit EOY 1 and your last deposit EOY 20. In addition to these regular deposits, you also make a one-time deposit of $10,000 today (i.e., at EOY 0). If the interest rate on your savings account is 3%, calculate  the balance of your account at EOY 20.

Answer rating: 100% (QA)

To compute the equilibrium of your record toward the finish of Year 20 considering the normal stores ... View the full answer