After completing your Principles of Finance course, you plan to save $6,800 per year for the next 11 years. After the last deposit, you will keep the money in the account for 6 more years. The account will earn an interest rate of 7.1 percent. How much will there be in the account 17 years from today?

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
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After completing your Principles of Finance course, you plan to save $6,800 per year for the next 11 years. After the last deposit, you will keep the money in the account for 6 more years. The account will earn an interest rate of 7.1 percent. How much will there be in the account 17 years from today?

 

 
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