You put $2,000 in an account today. After 35 years, how much is in the account assuming no other deposits or withdrawals? Assume a 6% APR and quarterly compounding. $70,000.00 $15,372.17 $16,079.62 $16,247.10

You put $2,000 in an account today. After 35 years, how much is in the account assuming no other deposits or withdrawals? Assume a 6% APR and quarterly compounding. $70,000.00 $15,372.17 $16,079.62 $16,247.10

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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Question

You put $2,000 in an account today. After 35 years, how much is in the account
assuming no other deposits or withdrawals? Assume a 6% APR and quarterly
compounding.
$70,000.00
$15,372.17
$16,079.62
$16,247.10

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