You make a $2500 deposit today in a savings account that pays 3.5% interest APY compounded monthly. If you make no other deposit in this account, how much interest would you have earned 10 years from today?
You make a $2500 deposit today in a savings account that pays 3.5% interest APY compounded monthly. If you make no other deposit in this account, how much interest would you have earned 10 years from today?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1P
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You make a $2500 deposit today in a savings account that pays 3.5% interest APY compounded monthly. If you make no other deposit in this account, how much interest would you have earned 10 years from today?
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