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2 years ago

14

Suppose you deposit $116 today, $135 in one year, and $885 in two years in an account that pays an annual rate of interest of 14

.1%. How much money will be in the account after three years?

1 answer:

olga nikolaevna [1]2 years ago

7 0

Answer:

The answer is $1357.85

Explanation:

Future value= Σ C(1+i)^n

FV = 116(1.141^3) + 135( 1.141^2) + 885(1.141) = $1357.85

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