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Assume that today is your 30th birthday and you have 690813 in your savings account. Every quarter you will reinforce your savings account with new deposits that grow 1% per quarter, start one year from now and end when you

Assume that today is your 30th birthday and you have €690813 in your savings account. Every quarter you will reinforce your savings account with new deposits that grow 1% per quarter, start one year from now and end when you turn 75 years old. The last amount deposited is €5852. Assume that your savings earn an effective annual rate of 9.2%.

Compute the total amount in your bank account (with interests) when you turn 84 years old.
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To compute the total amount in your bank account when you turn 84 years old we need to calculate the View the full answer


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Corporate Finance

Corporate Finance

ISBN: 978-0071339575

7th Canadian Edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Gordon Ro

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Posted Date: June 05, 2023 09:52:35
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