Answered: If you would like to have$ 10,000 after…

If you would like to have$ 10,000 after 8 years, how much money should you deposit now if the interest rate is 12% compounded each year? O a. $4802 O b. $4039 Ос. $3764 O d. $5102

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

If you would like to have$ 10,000 after 8
years, how much money should you deposit
now if the interest rate is 12% compounded
each year?
O a. $4802
O b. $4039
O c. $3764
O d. $5102

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