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You saving up to buy a car. You plan on making your first savings deposit a end of each year. Year 1 2 3 4 Projected Savings Amount $1,500 $3,000 $2,200 $3,000 4 year from today, and then making deposits for the following 3 years. These are the amounts you plan to save at the You expect to earn an annual rate of 9% per year throughout. What amount will you have available at the end of year 4? $

You saving up to buy a car. You plan on making your first savings deposit a end of each year. Year 1 2 3 4 Projected Savings Amount $1,500 $3,000 $2,200 $3,000 4 year from today, and then making deposits for the following 3 years. These are the amounts you plan to save at the You expect to earn an annual rate of 9% per year throughout. What amount will you have available at the end of year 4? $

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter4: Managing Your Cash And Savings
Section: Chapter Questions
Problem 7FPE: Calculating interest earned and future value of savings account. If you put 6,000 in a savings...
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You saving up to buy a car. You plan on making your first savings deposit one year from today, and then making deposits for the following 3 years. These are the amounts you plan to save at the end of each year. Year 1 2 3 4 Projected Savings Amount $1,500 $3,000 $2,200 $3,000 W You expect to earn an annual rate of 9% per year throughout. What amount will you have available at the end of year 4? S
Transcribed Image Text:You saving up to buy a car. You plan on making your first savings deposit one year from today, and then making deposits for the following 3 years. These are the amounts you plan to save at the end of each year. Year 1 2 3 4 Projected Savings Amount $1,500 $3,000 $2,200 $3,000 W You expect to earn an annual rate of 9% per year throughout. What amount will you have available at the end of year 4? S
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