Suppose you deposit $1,000 in one year, $2,000 in two years, and $4,000 in three years. Assume
Question:
Suppose you deposit $1,000 in one year, $2,000 in two years, and $4,000 in three years. Assume a 4 percent interest rate throughout.
a. How much will you have in five years?
b. Suppose you plan to withdraw $1,500 in four years and there is no penalty for early withdrawal. How much will you have in five years?
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a b Time line Let FV Samount Year N 2 1000 2000 ...View the full answer
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Related Book For
Finance for Executives Managing for Value Creation
ISBN: 978-0538751346
4th edition
Authors: Gabriel Hawawini, Claude Viallet
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