Future Value of an annuity
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Your uncle has agreed to deposit $3,000 in your brokerage account at the beginning of each of the next five year (t=0,t=1,t=2,t=3 and t=4) You estimate that you can earn 9 percent a year on your investments. How much will you have in your account four years from now (at t=4) Assume that no money is withdrawn from the account until t=4
A 13,719.39
b. 17,954.13
c 19,570.00
d 21,430.45
e 22,436.12
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The solution calculates Future Value of an annuity.
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Your uncle has agreed to deposit 3,000 in your brokerage account at the beginning of each of the next five year (t=0,t=1,t=2,t=3 and t=4) You estimate that you can earn 9 percent a year on your investments. How much will ...
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