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You deposit $1,200 at the end of each year into an account paying 9.6 percent interest. a. How much money will you have in the account in 19 years? Future value of 19 deposits b. How much will you have if you make deposits for 38 years? Future value of 38 deposits

You deposit $1,200 at the end of each year into an account paying 9.6 percent interest. a. How much money will you have in the account in 19 years? Future value of 19 deposits b. How much will you have if you make deposits for 38 years? Future value of 38 deposits

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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You deposit $1,200 at the end of each year into an account paying 9.6 percent interest. a. How much money will you have in the account in 19 years? Future value of 19 deposits b. How much will you have if you make deposits for 38 years? Future value of 38 deposits
Transcribed Image Text:You deposit $1,200 at the end of each year into an account paying 9.6 percent interest. a. How much money will you have in the account in 19 years? Future value of 19 deposits b. How much will you have if you make deposits for 38 years? Future value of 38 deposits
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