You plan to deposit $4,900 at the end of each of the next 15 years into an account paying 11.3 percent interest. a. How much will you have in your account if you make deposits for 15 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much will you have if you make deposits for 30 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
You plan to deposit $4,900 at the end of each of the next 15 years into an account paying 11.3 percent interest. a. How much will you have in your account if you make deposits for 15 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much will you have if you make deposits for 30 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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Question
You plan to deposit $4,900 at the end of each of the next 15 years into an account paying 11.3 percent interest. |
a. | How much will you have in your account if you make deposits for 15 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
b. |
How much will you have if you make deposits for 30 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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