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Please show work and explain. Consider the following deposits made into a savings account that earns a constant interest compounded annually. The second column represents
Please show work and explain. Consider the following deposits made into a savings account that earns a constant interest compounded annually. The second column represents the actual deposits made at the end of year n: An. The third column represents the present value of the deposit in year n. In other words, the present value of $800 in year 2 is $725.62. Assuming these are the only deposits made, calculate the total amount in the savings account at the end of year 4.
Pn S0 S500 $800 $200 $0 $0 $725.62Step by Step Solution
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