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Suppose an investor deposits $3,000 today in an interest bearing account at a local bank. The account pays 4.5% interest compounded annually and the
Suppose an investor deposits $3,000 today in an interest bearing account at a local bank. The account pays 4.5% interest compounded annually and the investor expects to withdraw the original principal, plus the accumulated interest, at the end of five years. What is the future value (FV) of this investment at the end of five years (use financial calculator)? Solution: N FV= ? | PV PMT ?? FV
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Financial Accounting Information For Decisions
Authors: Robert w Ingram, Thomas L Albright
6th Edition
9780324313413, 324672705, 324313411, 978-0324672701
