Assume you deposit $5,800 at the end of each year into an account paying 11.5 percent...
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Assume you deposit $5,800 at the end of each year into an account paying 11.5 percent interest. a. How much money will you have in the account in 20 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much will you have if you make deposits for 40 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. b. Future value Future value Assume you deposit $5,800 at the end of each year into an account paying 11.5 percent interest. a. How much money will you have in the account in 20 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much will you have if you make deposits for 40 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. b. Future value Future value
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Answer rating: 100% (QA)
Answer Annual Interest rate is 115 1 Year Principal Amount Interest Amount Cum Value 1 580000 000 58... View the full answer
Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
Posted Date:
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