You deposit $1,000 in the bank at an annual interest rate of 8%. Interest is compounded once per year. In one year's time you have $ ------ In two year's time you have $ ------- Enter numbers rounded to two decimal places as necessary.

You deposit $1,000 in the bank at an annual interest rate of 8%. Interest is compounded once per year. In one year's time you have $ ------ In two year's time you have $ ------- Enter numbers rounded to two decimal places as necessary.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 26P

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