Question
You plan to make a total of 12 deposits of $500 each, one every month, with the first payment being made today. The bank pays
You plan to make a total of 12 deposits of $500 each, one every month, with the first payment being made today. The bank pays a nominal interest rate of 12%. You plan to leave the money in the bank for five years. How much will be in your account after 5 years?
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Management Accounting
Authors: John Burns, Martin Quinn, Liz Warren, João Oliveira
1st Edition
0077121619, 978-0077121617
