Answered: Suppose your savings account pays 6%…

Suppose your savings account pays 6% interest compounded monthly. If you deposit $18,000 forfour years, how much will you have?

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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Suppose your savings account pays 6% interest compounded monthly. If you deposit $18,000 for
four years, how much will you have?

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