Question
It is now the beginning of the year. Assume that, starting at the end of the year, you will make deposits of $497 each year
It is now the beginning of the year. Assume that, starting at the end of the year, you will make deposits of $497 each year into a savings account.
You will make a total of 9 annual deposits. If the savings account interest rate is 12%, how much money will you have at the end of year 9?
(In other words, what is the future value of this annuity?)
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ISE Real Estate Finance And Investments
Authors: Jeffrey Fisher William B. Brueggeman
17th International Edition
1264892888, 9781264892884
