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Mark Welsch deposits $7,100 in an account that earns interest at an annual rate of 4%, compounded quarterly. The $7100 plus earned interest must remain in the account 2 years before it can be withdrawn. How much money will be in the account at the end of 2 years? (PV of $1. EV of $1. PVA of $1. and EVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Present Value 7.100 Table Factor Total Accumulation

Mark Welsch deposits $7,100 in an account that earns interest at an annual rate of 4%, compounded quarterly. The $7100 plus earned interest must remain in the account 2 years before it can be withdrawn. How much money will be in the account at the end of 2 years? (PV of $1. EV of $1. PVA of $1. and EVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Present Value 7.100 Table Factor Total Accumulation

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
Problem 1PS
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Mark Welsch deposits $7,100 in an account that earns interest at an annual rate of 4%, compounded quarterly. The $7,100 plus earned interest must remain in the account 2 years before it can be withdrawn. How much money will be in the account at the end of 2 years? (PV of $1. EV of $1. PVA of $1, and EVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Present Value 7,100 Table Factor Total Accumulation
Transcribed Image Text:Mark Welsch deposits $7,100 in an account that earns interest at an annual rate of 4%, compounded quarterly. The $7,100 plus earned interest must remain in the account 2 years before it can be withdrawn. How much money will be in the account at the end of 2 years? (PV of $1. EV of $1. PVA of $1, and EVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Present Value 7,100 Table Factor Total Accumulation
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