Assume you deposit $5,900 at the end of each year into an account paying 11.75 percent interest. a. How much money will you have in the account in 21 years? b. How much will you have if you make deposits for 42 years?

Assume you deposit $5,900 at the end of each year into an account paying 11.75 percent interest. a. How much money will you have in the account in 21 years? b. How much will you have if you make deposits for 42 years?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...

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Assume you deposit $5,900 at the end of each year into an account paying 11.75 percent interest.

a.	How much money will you have in the account in 21 years?
b.	How much will you have if you make deposits for 42 years?

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