Use the compound interest formula to compute the balance in the following account after the stated period of time, assuming interest is compounded annually. $39,000 invested at an APR of 2.7% for 26 years. The balance in the account after 26 years is S (Round to the nearest cent as needed.)

Use the compound interest formula to compute the balance in the following account after the stated period of time, assuming interest is compounded annually. $39,000 invested at an APR of 2.7% for 26 years. The balance in the account after 26 years is S (Round to the nearest cent as needed.)

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 25E

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Question

Use the compound interest formula to compute the balance in the following account after the stated period of time, assuming interest is compounded annually.
$39.000 invested at an APR of 2.7% for 26 years.
The balance in the account after 26 years is $
(Round to the nearest cent as needed.)

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