Question
You invest $4970 at the beginning of every year and your friend invests $4970 at the end of every year. You both earn an annual
You invest $4970 at the beginning of every year and your friend invests $4970 at the end of every year. You both earn an annual rate of return of 14.00%.
a) How much will you have in your account after 11 years?
b) How much will your friend have in his account after 11 years?
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Global Banking
Authors: Roy C Smith, Ingo Walter, Gayle DeLong
3rd Edition
0195335937, 9780195335934
