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Please round all values to a nearest cent, i.e. $2.3472 = $2.35, and interest rate to 2 decimals when expressed in %, i.e. 2.355691% =
Please round all values to a nearest cent, i.e. $2.3472 = $2.35, and interest rate to 2 decimals when expressed in %, i.e. 2.355691% = 2.36%. You have $10,000 in a savings account earning an annual rate of 6% (compounded annually). Suppose you make a withdrawal of $3,000 at the end of 3 years, and a withdrawal of $5,000 at the end of 4 years. How much money will be in your account at the end of 6 years?
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