Answered: ou will deposit $1500 per year for 15…

ou will deposit $1500 per year for 15 years into an account that earns 4%. The first deposit will be made in 5 year from now. How much will be in the account when you finish the deposit?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 25P

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You will deposit $1500 per year for 15 years into an account that earns 4%. The first deposit will be made in 5 year from now. How much will be in the account when you finish the deposit?

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