Question
If you deposited $1,000 into a interest-bearing account today and the bank pays you an annual interest rate of 2% and you did not make
If you deposited $1,000 into a interest-bearing account today and the bank pays you an annual interest rate of 2% and you did not make any more deposits to the account. How much would the account be worth two years from today (future value)?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the future value of the account after two ...
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Step: 2
Step: 3
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
15th edition
1337671002, 978-1337395250
