Question: Problem 9-20 Future value [LO2] Christy Reed has been depositing $2,000 in her savings account every December since 2001. Her account earns 7 percent compounded

Problem 9-20 Future value [LO2]

Christy Reed has been depositing $2,000 in her savings account every December since 2001. Her account earns 7 percent compounded annually.

How much will she have in December 2012? (Assume that a deposit is made in December of 2012. Make sure to count the years carefully.) Use Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

What is the Future Value? ______________________

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