9 years of savings were made in a deposit account that pays 20% compound interest annually. The savings of the first year is 1090 $ and the amount of savings decreased by 216 $ every year. What is the future value of the accumulated money? A) 3,630.36 $ B) 3,560.96 $ C) 2,280,90 $ D) 3,360,16 $ E) 3.240,96

9 years of savings were made in a deposit account that pays 20% compound interest annually. The savings of the first year is 1090 $ and the amount of savings decreased by 216 $ every year. What is the future value of the accumulated money? A) 3,630.36 $ B) 3,560.96 $ C) 2,280,90 $ D) 3,360,16 $ E) 3.240,96

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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