Use the compound interest tables to answer the following questions. Required: Round your answers to the nearest
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Question:
Use the compound interest tables to answer the following questions.
Required:
Round your answers to the nearest dollar.
a. How much will be accumulated on January1, 2024 if $450,000 is deposited on January 1, 2020, and interest is compounded annually at 10%?
b. How much will be accumulated on December 31, 2028 if $80,000 is deposited on December 31, 2020, and the fund pays 9% interest compounded semiannually?
c. What will be on deposit on January 1,2025 if $50,000 is deposited on January 1, 2020, in a fund that earns 16% interest compounded quarterly?
Related Book For
Federal Tax Research
ISBN: 9781285439396
10th edition
Authors: Roby Sawyers, William Raabe, Gerald Whittenburg, Steven Gill
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