7 Suppose you plan to deposit $10,000 into a savings account each year for the next 25 years, with the first deposit beginning 1 year from now (so treat this problem as the future value (FV) of an ordinary annuity) The interest rate is 6 percent, compounded annually What would be the future value ...

SOLUTION For an ordinary annuity the future value FV can be calculated using the formula ...

7. Suppose you plan to deposit $10,000 into a savings account each year for the next...

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Microeconomics An Intuitive Approach with Calculus

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Authors: Thomas Nechyba

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7. Suppose you plan to deposit $10,000 into a savings account each year for the next...

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Microeconomics An Intuitive Approach with Calculus

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