Every year for 10 years starting year 2, you deposit $2000 in a savings account that earns 7% yearly. What is the present value of this series? O 36,436.26 O 7,023.58 70,893.54 O 13,128.19

EBK CONTEMPORARY FINANCIAL MANAGEMENT
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ISBN:9781337514835
Author:MOYER
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Chapter5: The Time Value Of Money
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QUESTION 8
Every year for 10 years starting year 2, you deposit $2000 in a savings account that earns 7% yearly. What is the
present value of this series?
36,436.26
O 7,023.58
O 70,893.54
O 13,128.19
Transcribed Image Text:QUESTION 8 Every year for 10 years starting year 2, you deposit $2000 in a savings account that earns 7% yearly. What is the present value of this series? 36,436.26 O 7,023.58 O 70,893.54 O 13,128.19
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