Future value If you deposit $6,000 in a bank account that pays 3% interest annually, how...
Future value
If you deposit $6,000 in a bank account that pays 3% interest annually, how much would be in your account after 5 years? Round your answer to the nearest cent.
Homework Answers
Future value is calculated using the FV function:-
=FV(rate,nper,pmt,pv)
=FV(3%,5,0,-6000)
=6955.64
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Future value
If you deposit $6,000 in a bank account that pays 3% interest
annually, how...
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Just 57
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Just 57
QUESTION 56 You deposit$ 100 in a savings account that pays 12%interest compounded annually. How much would you have in your account at the end of 5 years? O$160 $166.16 O $168.41 $172.35 O $176.23 QUESTION 57 In the above question, if the bank pays 12% interest compounded qua erly. How much would you have in your account at the end of 5 years? $165.12 $173.16 $180.61 $181.35 $182.45
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