Question: DO NOT USE CHATGPT !! DO IT YOURSELF Sam made annual deposits of $10,000 at the beginning of each year to Yes Bank, which pays

DO NOT USE CHATGPT !! DO IT YOURSELF

Sam made annual deposits of $10,000 at the beginning of each year to Yes Bank, which pays 3.65% interest compounded annually. After 10 years, Sam makes no more deposits. What will be the balance in the account 15 years after the last deposit?

Correct answer : 209638.33

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!