A deposit of $3,000 is made in a savings account that pays 7.5 percent interest compounded annually.

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A deposit of $3,000 is made in a savings account that pays 7.5 percent interest compounded annually. How much money will be available to the depositor at the end of 16 years?

a. $8,877

b. $10,258

c. $9,542

d. $943

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Principles Of Engineering Economic Analysis

ISBN: 9781118163832

6th Edition

Authors: John A. White, Kenneth E. Case, David B. Pratt

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Question Posted: Mar 26, 2024 01:02 AM

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A deposit of $3,000 is made in a savings account that pays 7.5 percent interest compounded annually.

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To calculate the future value of the deposit of 3000 at 75 interest compounded ...View the full answer

Principles Of Engineering Economic Analysis

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