If you deposit $4,000 at the end of each of the next 20 years into an account

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If you deposit $4,000 at the end of each of the next 20 years into an account paying 9.7 percent interest, how much money will you have in the account in 20 years? How much will you have if you make deposits for 40 years?

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Fundamentals of Corporate Finance

ISBN: 978-0077861704

11th edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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Question Posted: Nov 21, 2016 08:15 AM

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If you deposit $4,000 at the end of each of the next 20 years into an account

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Here we need to find the FVA The equation to find the FVA is FVA C 1 r t 1 r 0 1 20 4000 4000 400...View the full answer

Fundamentals of Corporate Finance

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