4-18. Calculate the compounded future value of 20 annual payments of $5,000 each into a savings account that earns 6% per year. All 20 payments are made at the beginning of each year.

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 22PROB
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4-18. Calculate the compounded future value of 20
annual payments of $5,000 each into a savings account
that earns 6% per year. All 20 payments are made at the
beginning of each year..
Transcribed Image Text:4-18. Calculate the compounded future value of 20 annual payments of $5,000 each into a savings account that earns 6% per year. All 20 payments are made at the beginning of each year..
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