Question
You open an investment account with $6,000 and must invest an additional $6,000 at the end of the year and every year there after for
You open an investment account with $6,000 and must invest an additional $6,000 at the end of the year and every year there after for 35 years. At the end of the 36th year you want to withdraw from the account (you do not make an additional payment in the 36th year).
How much money has accrued if the interest rate paid is 5% per year?
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Financial Institutions Management
Authors: Anthony Saunders
1st Edition
0256110565, 9780256110562
