One year ago, the Jenkins Family Fun Center deposited $4,200 in an investment account for the purpose of buying new equipment four years from today.
| One year ago, the Jenkins Family Fun Center deposited $4,200 in an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $6,000 to this account. They plan on making a final deposit of $8,200 to the account next year. How much will be available when they are ready to buy the equipment, assuming they earn a 5 percent rate of return? |
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Authors: Arthur J. Keown
9th Edition
013033362X, 9780130333629
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