Need answers ASAP... If P100 is deposited in a savings account that pays 6% annual interest, what amount has accumulated by the end of the eighth year? How much of this is interest and how much is principal? Draw the cash flow diagram.

Need answers ASAP... If P100 is deposited in a savings account that pays 6% annual interest, what amount has accumulated by the end of the eighth year? How much of this is interest and how much is principal? Draw the cash flow diagram.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 4QTD

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If P100 is deposited in a savings account that pays 6% annual interest, what amount has accumulated by the end of the eighth year? How much of this is interest and how much is principal?

Draw the cash flow diagram.

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