If you deposit $500 per year in an account for six years at 9 percent compounded annually, how much will you have in the account? Round your answer to the nearest dollar. $3,270 Give typing answer with explanation and conclusion

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A: Here, Particulars Values Future value (FV)  $ 4,00,000.00 Annual interest rate 8.00% Time…

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A:

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A: Future value  The value of a current asset at some point in the future, based on an estimated growth…

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Q: You just obtained a loan of $13,384 with monthly payments for four years at 8.4 percent interest,…

A: The concept of time value of money can be used here. As per the concept of time value of money the…

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A: The time value of money is an essential financial concept that implies that a dollar amount in one's…

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A: Workings:

Q: If you deposit $13,.224 annually at the end of every year in a bank account paying 8% annually. how…

A: Annual deposit (D) = $13,224 Period (n) = 5 Years Interest rate (i) = 8% (or 0.08) Amount saved at…