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Kai Chang made a $2,000 deposit in her savings account on her 21st birthday, and she has made another $2,000

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Kai Chang made a $2,000 deposit in her savings account on her 21st birthday, and she has made another $2,000 deposit on every birthday since then. Her account earns 7 percent compounded annually. How much will she have in her account after she makes the deposit on her 32nd birthday?

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Foundations Of Financial Management

Foundations Of Financial Management

ISBN: 9781264097623

18th Edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen

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Question Details
Chapter # 9- Time Value of Money
Section: Problem
Problem: 20
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Question Posted: September 28, 2023 03:58:14
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