4. An account earns 10% interest annually. $2,000 is deposited into that account today, at the end of 5th year another 2000 is deposited into the account and additionally monthly deposits of $300 is made into that account. How much is accumulated into that account at the end of 10 years?

4. An account earns 10% interest annually. $2,000 is deposited into that account today, at the end of 5th year another 2000 is deposited into the account and additionally monthly deposits of $300 is made into that account. How much is accumulated into that account at the end of 10 years?

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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4. An account earns 10% interest annually. $2,000 is deposited into that account today, at the end
of 5th year another 2000 is deposited into the account and additionally monthly deposits of $300
is made into that account. How much is accumulated into that account at the end of 10 years?

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