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At the end of each of the next 8 years, you planto put $25,000 of your annual salary in thebank. If the annual interest rate is 3%, what isthe present value of this planned savingsstream? What will the balance in your bankaccount be at the end of the 8 year period?

At the end of each of the next 8 years, you planto put $25,000 of your annual salary in thebank. If the annual interest rate is 3%, what isthe present value of this planned savingsstream? What will the balance in your bankaccount be at the end of the 8 year period?

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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At the end of each of the next 8 years, you plan
to put $25,000 of your annual salary in the
bank. If the annual interest rate is 3%, what is
the present value of this planned savings
stream? What will the balance in your bank
account be at the end of the 8 year period?

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