A company has a fixed deposit with a bank for 5 years, with an initial deposit of

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A company has a fixed deposit with a bank for 5 years, with an initial deposit of $100,000 and an interest rate of 4% per annum, compounded annually. Calculate the maturity value of the fixed deposit after 5 years.

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Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Posted Date: Feb 08, 2023 11:22 PM

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A company has a fixed deposit with a bank for 5 years, with an initial deposit of

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