Cindy will invest $4000 at the beginning of every year for the next 25 years. Her money will earn 11% compounded annually. If she does not withdraw any of the money, how much should she have exactly seven years after she makes the last $4000 investment? $1,054,679 $1,434,739 $950.161 $893,562
Cindy will invest $4000 at the beginning of every year for the next 25 years. Her money will earn 11% compounded annually. If she does not withdraw any of the money, how much should she have exactly seven years after she makes the last $4000 investment? $1,054,679 $1,434,739 $950.161 $893,562
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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Cindy will invest $4000 at the beginning of every year for the next 25 years. Her money will earn 11% compounded annually. If she does not withdraw any of the money, how much should she have exactly seven years after she makes the last $4000 investment?
$1,054,679
$1,434,739
$950.161
$893,562
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