Solution-Account at the end of two years

Account at the end of two years

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Your account pays interest at 8 percent p.a. You deposit $ 10,154 in it today. You must have exactly $ 53,665 in the account at the end of two years. What should you do at the end of the first year (that is, what dollar amount must you deposit) to ensure this?

Reference no: EM131429114

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Account at the end of two years : Your account pays interest at 8 percent p.a. You deposit $ 10,154 in it today. You must have exactly $ 53,665 in the account at the end of two years. What should you do at the end of the first year (that is, what dollar amount must you deposit) to..

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Account at the end of two years

Reference no: EM131429114

Reference no: EM131429114

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