You plan to start saving money by depositing $5000 into your savings account now. Also, you estimate that you will make a deposit of $200 each year for the next 9 ears. What would be the future worth if the investment interest rate is 7% per year? (solve using both tables and rules)

You plan to start saving money by depositing $5000 into your savings account now. Also, you estimate that you will make a deposit of $200 each year for the next 9 ears. What would be the future worth if the investment interest rate is 7% per year? (solve using both tables and rules)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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You plan to start saving money by depositing $5000 into your savings account now. Also, you estimate that you will make a deposit of $200 each year for the next 9 ears. What would be the future
worth if the investment interest rate is 7% per year? (solve using both tables and rules)

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