Homework help needed

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Tom plans to deposit $3500 into his savings account for each of the next 5 years and then $2000 per year for 5 years after that (all at year end) He anticipates interest rates to be 6% for the next 3 years and then 9% then after. How much will he have in account after 10 years?

Oct 17th, 2017

Thank you for the opportunity to help you with your question!

Hi, attached is the excel file containing detailed solution of your problem - Finance-Tom deposits.xlsx

Answer is - $37805

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jun 22nd, 2015

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Oct 17th, 2017
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Oct 17th, 2017
Oct 18th, 2017
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