Question
GENERAL INSTRUCTIONS: ENTER YOUR ANSWER WITHOUT THE $ SIGN AND COMMA, BUT FORMATTED IN DOLLARS WITH TWO DECIMAL PLACES, for instance if you compute $77,342.6478
GENERAL INSTRUCTIONS: ENTER YOUR ANSWER WITHOUT THE $ SIGN AND COMMA, BUT FORMATTED IN DOLLARS WITH TWO DECIMAL PLACES, for instance if you compute $77,342.6478 then ENTER 77342.65 AS YOUR ANSWER. DO NOT ROUND IN YOUR CALCULATION STEPS (use calculator memory functions) TO AVOID ROUNDING ERRORS. There is a little bit of tolerance built into accepting/rejecting your answer, but if you round in your intermediate calculations you may be too far off. You deposit $6,000 into an investment account today, and leave it in the account for 4 years. No other money is added to the account in the future. Assuming annual rate of return of 12%, what will be the balance in your account at the end of year 4?
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