17. You deposit $8,000 in a bank account today. You make another deposit of $14,000 into the account in year one and you make a third deposit of $10,000 in year two. The bank pays interest at 8 percent compounded annually. How much will you have in your account at the end of year 3?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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17. You deposit $8,000 in a bank account today. You make another deposit
of $14,000 into the account in year one and you make a third deposit of
$10,000 in year two. The bank pays interest at 8 percent compounded
annually. How much will you have in your account at the end of year 3? *
O a) $37,207
b) $35,207
O c) $39,207
O d) $40,502
e) None of the above
Transcribed Image Text:17. You deposit $8,000 in a bank account today. You make another deposit of $14,000 into the account in year one and you make a third deposit of $10,000 in year two. The bank pays interest at 8 percent compounded annually. How much will you have in your account at the end of year 3? * O a) $37,207 b) $35,207 O c) $39,207 O d) $40,502 e) None of the above
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