You think you will be able to deposit $4,000 at the end of each of the next three years in a bank account paying 8 percent interest. ▪ You currently have $7,000 in the account. ▪ How much will you have in three years? ▪ How much will you have in four years?

You think you will be able to deposit $4,000 at the end of each of the next three years in a bank account paying 8 percent interest. ▪ You currently have $7,000 in the account. ▪ How much will you have in three years? ▪ How much will you have in four years?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...

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You think you will be able to deposit $4,000 at the end of each of the next three
years in a bank account paying 8 percent interest.
▪ You currently have $7,000 in the account.
▪ How much will you have in three years?
▪ How much will you have in four years?

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