Question
You placed $1,360 in a savings account today that earns an annual interest rate of 9 percent compounded annually. How much you will have in
You placed $1,360 in a savings account today that earns an annual interest rate of 9 percent compounded annually. How much you will have in this account at the end of 17 years? Assume that all interest received at the end of the year is reinvested the next year.
Round the answer to two decimal places.
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Financial Management for Public, Health and Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
5th edition
1506326846, 9781506326863, 1506326862, 978-1506326849
