John Meyers recently graduated from university and has managed to find a job. He is from an
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- John Meyers recently graduated from university and has managed to find a job. He is from an economically weak community and has received help from a local charity supported by the city council. John has decided to donate one month’s salary to the charity. However, as the charity is well funded right now, he has decided to deposit his one month’s salary, £1,800, into an account paying 3.67 percent on the condition that the city cannot collect any money from that account for the next 120 years.
- How much money will the city receive from John’s donation in 120 years’ time?
Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
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