Homework help needed

Accounting
Tutor: None Selected Time limit: 1 Day

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?

Jun 22nd, 2015

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

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Jun 22nd, 2015
...
Jun 22nd, 2015
Dec 4th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer