If you deposit $20,000 in a bank account that pays 5% interest annually, how much will be in your account after 5 years? A. $15,670.52 B. $18,525.63 C. $25,670.52 D. $15,525,63 E. $25,525.63
If you deposit $20,000 in a bank account that pays 5% interest annually, how much will be in your account after 5 years? A. $15,670.52 B. $18,525.63 C. $25,670.52 D. $15,525,63 E. $25,525.63
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1P
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If you deposit $20,000 in a bank account that pays 5% interest annually, how much will be in your account after 5 years?
- A. $15,670.52
- B. $18,525.63
- C. $25,670.52
- D. $15,525,63
- E. $25,525.63
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