(Related to Checkpoint 5.2) (Future value) If you deposit $3,200 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years (assuming no further deposits)? In 40 years? a. If you deposit $3,200 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years? $ (Round to the nearest cent.) b. If you deposit $3,200 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 40 years? (Round to the nearest cent.)
(Related to Checkpoint 5.2) (Future value) If you deposit $3,200 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years (assuming no further deposits)? In 40 years? a. If you deposit $3,200 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years? $ (Round to the nearest cent.) b. If you deposit $3,200 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 40 years? (Round to the nearest cent.)
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter4: Managing Your Cash And Savings
Section: Chapter Questions
Problem 7FPE: Calculating interest earned and future value of savings account. If you put 6,000 in a savings...
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![(Related to Checkpoint 5.2) (Future value) If you deposit $3,200 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years (assuming no further deposits)? In 40 years?
a. If you deposit $3,200 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years?
$ (Round to the nearest cent.)
b. If you deposit $3,200 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 40 years?
(Round to the nearest cent.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3c40ac88-2f52-4513-b07d-282471f8d832%2Fd5921804-a34e-42aa-897e-7d87b8d1fd0e%2Fr02ja99_processed.png&w=3840&q=75)
Transcribed Image Text:(Related to Checkpoint 5.2) (Future value) If you deposit $3,200 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years (assuming no further deposits)? In 40 years?
a. If you deposit $3,200 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years?
$ (Round to the nearest cent.)
b. If you deposit $3,200 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 40 years?
(Round to the nearest cent.)
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