Question
You deposit $1,500 into an account that pays 4% per year. Your plan is to withdraw this amount at the end of 5 years to
You deposit $1,500 into an account that pays 4% per year. Your plan is to withdraw this amount at the end of 5 years to use for a down payment on a new car. How much will you be able to withdraw at the end of 5 years? Do not round intermediate calculations. Round your answer to the nearest cent.
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Get StartedRecommended Textbook for
Financial Management Core Concepts
Authors: Raymond M Brooks
3rd edition
133866696, 978-0133866698
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