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Brenda plans to reduce her spending by $100 a month. Calculate the future value of this increase in savings over the next 15 years.
Brenda plans to reduce her spending by $100 a month. Calculate the future value of this increase in savings over the next 15 years. (Assume an annual deposit to her savings account, and an annual interest rate of 7 percent.) (Exhibit 1-A, Exhibit 1-8, Exhibit 1-C, Exhibit 1-D) Note: Use appropriate factor(s) from the tables provided. Round time value factor to 3 decimal places and final answer to 2 decimal places. Future value
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Managerial Accounting
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
1st Canadian Edition
978-0132490252, 132490250, 978-0176223311
