You can deposit $6,000 into an account paying 14% annual interest either today or exactly 10 years

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You can deposit $6,000 into an account paying 14% annual interest either today or exactly 10 years from today. How much better off will you be 30 years from now if you decide to make the initial deposit today rather than 10 years from today?

The future value at the end of 30 years if you deposit $6,000 at 14% today is $?. (Round to the nearest dollar.)

Related Book For answer-question

Principles Of Managerial Finance

ISBN: 978-0136119463

13th Edition

Authors: Lawrence J. Gitman, Chad J. Zutter

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Posted Date: May 02, 2024 07:27 AM

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You can deposit $6,000 into an account paying 14% annual interest either today or exactly 10 years

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Future Value Formula FV PV1 rn Where FV is the futu... View the full answer

Principles Of Managerial Finance

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