If you deposit $4,500 at the end of each of the next 20 years into an account

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If you deposit $4,500 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: 978-1260153590

12th edition

Authors: Stephen M. Ross, Randolph W Westerfield, Robert R. Dockson, Bradford D Jordan

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Question Posted: Jul 17, 2019 09:09 AM

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If you deposit $4,500 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 C1 r t ...View the full answer

Fundamentals of Corporate Finance

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