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You deposit $6000 in an account earning 2% interest compounded monthly. How much will you have in the account in 5 years?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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You deposit $6000 in an account earning 2% interest compounded monthly. How much will you have in the account in 5 years?

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