Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

One year ago Simon deposited 80000 $ in her investment account for the purpose of buying a flat five years from today . Today she

One year ago Simon deposited 80000 $ in her investment account for the purpose of buying a flat five years from today . Today she is adding another 20000 $ to her account . She plans on making final deposit of 35000 to the account for be year from today . If the interest rate is 10 percent , how much cash will be available in her investment account when she is ready to buy the flat( do not intermediate calculations and round your answer to 2 decimal places e.g, 12.47)

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 In The Public Sector Tools Applications And Cases

Authors: Xiaohu Wang

1st Edition

0765616785, 9780765616784

More Books

Students also viewed these Finance questions