In one year, you will make an initial deposit in the amount of $5,000 in a new savings account. You plan to make additional deposits
In one year, you will make an initial deposit in the amount of $5,000 in a new savings account. You plan to make additional deposits in the same amount of $5,000 for 11 years after the initial deposit. There will only be these 12 deposits and no withdrawals made to your account. Assume the interest rate you will earn is 4% per year. How much will your account be worth in 12 years?
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Authors: Frank K. Reilly, Keith C. Brown
7th Edition
0324171730, 978-0324171730
