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Mateo deposits $5,000 at the end of years 2, 4 and 6. If interest is 8.2% compounded annually, determine the value at the end of year 6. Hint: Money at the end of year 2 means the same as the beginning of year 3. $5000 should be on the year three mark of the timeline. O $19,706.59 $20,706.59 O $17,706.59

Mateo deposits $5,000 at the end of years 2, 4 and 6. If interest is 8.2% compounded annually, determine the value at the end of year 6. Hint: Money at the end of year 2 means the same as the beginning of year 3. $5000 should be on the year three mark of the timeline. O $19,706.59 $20,706.59 O $17,706.59

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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D QUESTION 4 Mateo deposits $5,000 at the end of years 2, 4 and 6. If interest is 8.2% compounded annually, determine the value at the end of year 6. Hint: Money at the end of year 2 means the same as the beginning of year 3. $5000 should be on the year three mark of the timeline. O $19,706.59 O $20,706.59 O $17,706.59 O $22,706.59 O $21,706.59
Transcribed Image Text:D QUESTION 4 Mateo deposits $5,000 at the end of years 2, 4 and 6. If interest is 8.2% compounded annually, determine the value at the end of year 6. Hint: Money at the end of year 2 means the same as the beginning of year 3. $5000 should be on the year three mark of the timeline. O $19,706.59 O $20,706.59 O $17,706.59 O $22,706.59 O $21,706.59
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