Assume that 1 year from now you plan to deposit $1,000 in a savings account that pays
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Assume that 1 year from now you plan to deposit $1,000 in a savings account that pays a nominal rate of 8%.
a. If the bank compounds interest annually, how much will you have in your account 4 years from now?
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Related Book For 
Financial Management Theory And Practice
ISBN: 9781439078105
13th Edition
Authors: Eugene F. Brigham, Michael C. Ehrhardt
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