Introduction to Finance

label Business & Finance
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

 You deposit $1,900 at the end of each year into an account paying 10.1 percent interest.

(a) How much money will you have in the account in 24 years?

(b) How much will you have if you make deposits for 48 years?

Feb 16th, 2015

Future value = -fv(0.101,24,1900) = $170,565.4= $170,565

Future value = -fv(0.101,48,1900) = $1,887,629.86 = $1,887,630


Feb 16th, 2015

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Feb 16th, 2015
...
Feb 16th, 2015
Jun 24th, 2017
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