You plan to deposit $6,000 at the end of each of the next 25 years into an account paying 10.3 percent interest. a. How much will you have in your account if you make deposits for 25 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 50 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value of 25 deposits a. b. Future value of 50 deposits

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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You plan to deposit $6,000 at the end of each of the next 25 years into an account
paying 10.3 percent interest.
a. How much will you have in your account if you make deposits for 25 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 50 years? (Do not round
intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
08
a. Future value of 25 deposits
b. Future value of 50 deposits
Ac
raw
Mill
< Prey
13 of 23
Next
8.
ER
D F G
Transcribed Image Text:Saved You plan to deposit $6,000 at the end of each of the next 25 years into an account paying 10.3 percent interest. a. How much will you have in your account if you make deposits for 25 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 50 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) 08 a. Future value of 25 deposits b. Future value of 50 deposits Ac raw Mill < Prey 13 of 23 Next 8. ER D F G
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