Question
Bob deposits the amount of $ 100 in his bank account today, and plans to deposit the amount of $ 175 in the same account
Bob deposits the amount of $100 in his bank account today, and plans to deposit the amount of $175 in the same account one year from today, and finally plans to deposit the amount of $225 in the same account two years from now. If the interest rate is 8.55%, how much will Bob have accumulated in his account three years from today?
$______________________________
You should set your calculator for at least four decimal places of accuracy. I'll remind you of this from time to time but this is a working rule throughout the semester.
Place your answer in dollars and cents.
Do not include a dollar sign or comma in your answer. This is another rule that I'll remind you of but should be a working rule throughout the semester.
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
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