Question
You just deposited $5,000 in a bank account that pays a 12% nominal interest rate, compounded monthly. If you also add another $10,000 to the
You just deposited $5,000 in a bank account that pays a 12% nominal interest rate, compounded monthly. If you also add another $10,000 to the account one year (12 months) from now and another $15,000 to the account two years from now, how much will be in the account three years (36 months) from now? How to calculate using Financial Calculator?
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Financial Statement Analysis
Authors: Martin S. Fridson, Fernando Alvarez
5th Edition
1119457149, 978-1119457145
