What is the accumulated sum of the following stream of payments? $20,324 every year at the...
What is the accumulated sum of the following stream of payments? $20,324 every year at the beginning of the year for 10 years at 6.53 percent compound annually.
Homework Answers
Accumulated sum after 10 years =
Future value of yearly investments of $20,324 at 6.53% interest rate compounded annually
= $20324 + $20324* (1.0653)9 = $274,648
Accumulated sum after 10 years = $274,648
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