Question
Sa placed $5,119 in a savings account today that has an annual interest rate of 15 percent, compounded annually. How much will Sa have in
Sa placed $5,119 in a savings account today that has an annual interest rate of 15 percent, compounded annually. How much will Sa have in this account at the end of 23 years? Assume that all interest received at the end of the year is reinvested the next year.
Round the answer to two decimal places.
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Financial Management Principles and Applications
Authors: Sheridan Titman, Arthur J. Keown, John H. Martin
13th edition
134417216, 978-0134417509, 013441750X, 978-0134417219
