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What will be the final balance at the end of year 23 if you make a deposit of 88,000 at the end of year 4, 35,000 at the end year 8 and 11,000 at year 14 if the savings account pays 6.4 % per period?

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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What will be the final balance at the end of year 23 if you make a deposit of 88,000 at the end of year 4, 35,000 at the end year 8 and 11,000 at year 14 if the savings account pays 6.4 % per period?

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