You will deposit $250 per year for 3 years into an account that earns 6%. The first deposit is made today. How much will be in the account 4 years from today. ( please answer with at least 3 digits to the right of the decimal point)
You will deposit $250 per year for 3 years into an account that earns 6%. The first deposit is made today. How much will be in the account 4 years from today. ( please answer with at least 3 digits to the right of the decimal point)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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You will deposit $250 per year for 3 years into an account that earns 6%. The first deposit is made today. How much will be in the account 4 years from today.
( please answer with at least 3 digits to the right of the decimal point)
Expert Solution
Given information:-
Deposits per Year is $250 for three years
Interest rate is 6%
To Find:-
Amount in account after 4 years
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