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Suppose you have an initial investment of $3000, an annual interest rate of 12% compounded monthly, payments of $150 at the beginning of each
Suppose you have an initial investment of $3000, an annual interest rate of 12% compounded monthly, payments of $150 at the beginning of each month with the first payment to be made today, and you want to calculate the future value after 5 years. Use the FV function in cell C161. Remember, you have to use the FV formula. If you directly enter the numerical amount, the answer will not be accepted.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
10th Canadian Edition Volume 2
1118300858, 978-1118300855
