On September 1, 2010, you decided to put $ 15000 in a money market fund. On March 1, 2015, you deposit another $ 16000 and on Jan 1, 2018, you added another $ 18000. This fund pays interest at the annual rate of 7.2%, compounded monthly. Find the future value of the fund on January 1, 2019, one year after the third deposit.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 10E: Amount of an Annuity John Goodheart wishes to provide for 6 annual withdrawals of 3,000 each...
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after the third depos
a. $ 69754.79
o. $67690.63
c. $73230.07
d. $71277.06
e. $ 73328.51
Transcribed Image Text:after the third depos a. $ 69754.79 o. $67690.63 c. $73230.07 d. $71277.06 e. $ 73328.51
On September 1, 2010, you decided to put
$15000 in a money market fund. On March
1, 2015, you deposit another $16000 and
on Jan 1, 2018, you added another $ 18000.
This fund pays interest at the annual rate of
7.2%, compounded monthly. Find the future
value of the fund on January 1, 2019, one
year after the third deposit.
Transcribed Image Text:On September 1, 2010, you decided to put $15000 in a money market fund. On March 1, 2015, you deposit another $16000 and on Jan 1, 2018, you added another $ 18000. This fund pays interest at the annual rate of 7.2%, compounded monthly. Find the future value of the fund on January 1, 2019, one year after the third deposit.
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