establish a "rainy day" cash reserve account, a certain company deposits $11,000 of its profit at the end of each quarter into a money market account that pays 1.85% interest compounded quarterly. (Round ur answers to the nearest cent.) a) How much (in $) will the account be worth in 2 years? $ (b) How much (in $) will the account be worth in 3 years? $

establish a "rainy day" cash reserve account, a certain company deposits $11,000 of its profit at the end of each quarter into a money market account that pays 1.85% interest compounded quarterly. (Round ur answers to the nearest cent.) a) How much (in $) will the account be worth in 2 years? $ (b) How much (in $) will the account be worth in 3 years? $

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 31P

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