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Eva opened a savings account with an initial deposit of $897. They then deposit $897 into that savings account at the end of

Eva opened a savings account with an initial deposit of $897. They then deposit $897 into that savings account at the end of

Essentials Of Investments
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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7:19 1 Eva opened a savings account with an initial deposit of $897. They then deposit $897 into that savings account at the end of every subsequent year. This savings account pays an annual interest rate of 2.8% and is compounded annually. How much will Eva have in their account after 8 years? B(t) = P. B n-t 1+ 1 n ¹ + 1)^¨* - ; (5) I U U A 123 QWER TYUIOP ASDF GHJKL |||| = space ZXC CVBNM × return !
Transcribed Image Text:7:19 1 Eva opened a savings account with an initial deposit of $897. They then deposit $897 into that savings account at the end of every subsequent year. This savings account pays an annual interest rate of 2.8% and is compounded annually. How much will Eva have in their account after 8 years? B(t) = P. B n-t 1+ 1 n ¹ + 1)^¨* - ; (5) I U U A 123 QWER TYUIOP ASDF GHJKL |||| = space ZXC CVBNM × return !
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