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Ch 05: End-of-Chapter PF Je Ulty < Back to Assignment Attempts: Keep the Highest: 1. Problem 5.01 Click here to read the eBoo
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Answer #1

Future Value = Present Value x (1+r) = $7,000 x (1 + 0.03) 5 = $8,114.92

After 5 year, $8,114.92 will be in acccount.

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