You are expecting to deposit the following amount at the end of each year for the next
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Question:
You are expecting to deposit the following amount at the end of each year for the next 5 years in a savings account:
| Year | 1 | 2 | 3 | 4 | 5 |
| Cash flow | $100 | 0 | 0 | $250 | $500 |
If the savings account pays 7% interest per year compounded annually, how much will you have at the end of year 7?
Expert Answer:
Sure If you deposit the following amount at the end of each year for the next 5 years in a ... View the full answer
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