You plan to make the following yearly deposits into a high yield savings account: Year 1:...
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You plan to make the following yearly deposits into a high yield savings account: Year 1: $500 (a year from today) Year 2: $1000 Year 3: $0 Year 4: $3000 The account has an interest rate of 12.50% per year. What will be the balance of the account 4 years from today? You plan to make the following yearly deposits into a high yield savings account: Year 1: $500 (a year from today) Year 2: $1000 Year 3: $0 Year 4: $3000 The account has an interest rate of 12.50% per year. What will be the balance of the account 4 years from today?
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To solve this problem we can use the future value formul... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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