You deposit $2,000 in an account today earning 8% per year. Five years from today, you make another deposit. After 20 total years from today, you have $28,354.93 in the account. What was the amount of that deposit in year five? Round to the nearest dollar, use the $ symbol and comma if necessary. Blac one two ancial $55
You deposit $2,000 in an account today earning 8% per year. Five years from today, you make another deposit. After 20 total years from today, you have $28,354.93 in the account. What was the amount of that deposit in year five? Round to the nearest dollar, use the $ symbol and comma if necessary. Blac one two ancial $55
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![You deposit $2,000 in an account today earning 8% per year. Five years from today,
you make another deposit. After 20 total years from today, you have $28,354.93 in
the account. What was the amount of that deposit in year five? Round to the
nearest dollar, use the $ symbol and comma if necessary.
Blac
one
two
ancial
$55](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe159bdb-351c-4a4f-8f83-88717b41bf19%2F2cfd3eb3-b2f6-48f3-b5f1-b899a448761c%2F5ww0ag8.jpeg&w=3840&q=75)
Transcribed Image Text:You deposit $2,000 in an account today earning 8% per year. Five years from today,
you make another deposit. After 20 total years from today, you have $28,354.93 in
the account. What was the amount of that deposit in year five? Round to the
nearest dollar, use the $ symbol and comma if necessary.
Blac
one
two
ancial
$55
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