Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If you deposit $2,000 into an account at the end of each of the next 40 years, at 4.5% interest, how much will you have

If you deposit $2,000 into an account at the end of each of the next 40 years, at 4.5% interest, how much will you have in the account, to the nearest $1,000, in 40 years?

$184,000

$214,000

$63,000

$122,000

$196,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Theory And Practice

Authors: Prasanna Chandra

9th Edition

9339222571, 978-9339222574

More Books

Students also viewed these Finance questions

Question

4. Identify the challenges facing todays organizations

Answered: 1 week ago