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Problem 4-55 (algorithmic) Question Help O How much money would be accumulated in 10 years for a deposit of $7,000 made at th

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Answer #1

Amount at the end of three years = 7000*(1.08)^3 = 8817.984

Amount at the end of seven years = 8817.984*(1.12)^4 = 13875.2653

Amount at the end of ten years = 13875.2653*(1.10)^3 = 18467.97

= 18468

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