Answered step by step
Verified Expert Solution
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started