Question
If you deposit $1,000 at the end of year one, $2,000 at the end of year two, and $3,000 at the end of year three,
If you deposit $1,000 at the end of year one, $2,000 at the end of year two, and $3,000 at the end of year three, approximately how much will you have at the end of 3 years? Assume a 7% annual interest rate throughout and all the deposits are made at the end of the year.
- $3,675
- $3,915
- $6,000
- $6,285
- $6,585
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0073379616, 73379611, 978-0697789938
