Future Value of Deposits
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Deposits of $8 are made in an account every third year. if the rate of interest is 1% per year, what will be the Future Value of these deposits in year 1001. (note that deposits are made every third year
1st. deposit in year 3
2nd. deposit in year 6
3rd. deposit in year 9
and so on.
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Solution Summary
This posting provides details on how to calculate the future value of deposits using Excel.
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