You make a one-time $3,088 deposit into an account which pays 2.8% compounded weekly. If you don't touch this account for 5 years, how much interest will the account generate during that time? Round to the nearest dollar.

You make a one-time $3,088 deposit into an account which pays 2.8% compounded weekly. If you don't touch this account for 5 years, how much interest will the account generate during that time? Round to the nearest dollar.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 24P

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You make a one-time $3,088 deposit into an account which pays 2.8% compounded weekly. If you don't touch this account for 5 years, how
much interest will the account generate during that time? Round to the nearest dollar.

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