Maxwell will receive $1,252.28 every year for the next 5 years. To enable him to receive this

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Maxwell will receive $1,252.28 every year for the next 5 years. To enable him to receive this amount his dad has deposited $5,000 in an account earning 8% interest per annum. What will be the balance of the account at the end of year 3?

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Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: Mar 12, 2024 01:54 AM

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Maxwell will receive $1,252.28 every year for the next 5 years. To enable him to receive this

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Answer To calculate the balance of the account at the end of year 3 we need to find the future value ... View the full answer

Personal Finance

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