Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 4QTD
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Question
![How much would be in your savings
account in 12 years if you deposited
$1,500 today? Assume the bank pays 5
percent per year.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F002b0ce1-31ee-4e81-8ae9-8abd2ad8a0fd%2Fd31c7f02-5000-4267-941b-7d6e85d99340%2F4i9qnje_processed.jpeg&w=3840&q=75)
Transcribed Image Text:How much would be in your savings
account in 12 years if you deposited
$1,500 today? Assume the bank pays 5
percent per year.
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