Question: HW 2A Question 2 This set of problems is designed to be calculated using the Excel or financial calculator . You can also use algebraic

HW 2A

Question 2

This set of problems is designed to be calculated using the Excel or financial calculator. You can also use algebraic formulas. Do not use financial tables to calculate these problems.

You placed $5,775 in a savings account today that earns an annual interest rate of 7 percent compounded annually. How much you will have in this account at the end of 38 years? Assume that all interest received at the end of the year is reinvested the next year.

Round the answer to two decimal places.

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