1. 1 2 3. 4 7 8. 6. 10 EOY 20 21 22 23 24 25 26 27 28 29 30 CF $100 $100 $100 $100 $100 Five deposits are made at the EOYS 2021-2025, as shown in the CF table above. If the interest rate is 6% compounded annually, what is the amount in the account at the end of 2030?
1. 1 2 3. 4 7 8. 6. 10 EOY 20 21 22 23 24 25 26 27 28 29 30 CF $100 $100 $100 $100 $100 Five deposits are made at the EOYS 2021-2025, as shown in the CF table above. If the interest rate is 6% compounded annually, what is the amount in the account at the end of 2030?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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PLEASE ANSWER ASAP
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$100 $100 $100 $100 $100
Five deposits are made at the EOYS 2021-2025, as shown in the CF table above. If the interest rate is 6% compounded annually, what is the
amount in the account at the end of 2030?
Expert Solution
Given Information:
Cash flow in 2021 is $100
Cash flow in 2022 is $100
Cash flow in 2023 is $100
Cash flow in 2024 is $100
Cash flow in 2025 is $100
Interest rate is 6%
To Find:
- Amount in account at the end of 2030
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