Don't put dollar sign ($) and comma (,) into the blank and show the final answer...
Don't put dollar sign ($) and comma (,) into the blank and show the final answer only. Don't show any supporting work in the blank.
Your uncle has agreed to deposit $4499 in your brokerage account at the beginning of each of the four years (t=0, t=1, t=2, t=3). You estimate that you can earn 6 percent a year on your investments. How much will you have in your account four years from now (at t = 4)? (Assume that no money is withdrawn from the account until t = 4)
Homework Answers
We see that the amount in account is given as equal
to=4499/6%*(1-1/1.06^4)*1.06*1.06^4
=20862.28
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Don't put dollar sign ($) and comma (,) into the blank
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