Mr. N wants to deposit an amount of $7,500 in savings account every year for 20 years. The savings account pays an annual interest of 5% per annum. What will be the balance at the end of 20th year? $248,636.91 $530,382.58 $255,400.72 $247,994.66
Mr. N wants to deposit an amount of $7,500 in savings account every year for 20 years. The savings account pays an annual interest of 5% per annum. What will be the balance at the end of 20th year? $248,636.91 $530,382.58 $255,400.72 $247,994.66
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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