A company deposits $3500 in a bank at the end of every year for 12 years. The company makes no deposits during the subsequent 8 years. If the bank pays 6% interest, how much would be in the account at the end of 20 years?

A company deposits $3500 in a bank at the end of every year for 12 years. The company makes no deposits during the subsequent 8 years. If the bank pays 6% interest, how much would be in the account at the end of 20 years?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 31P

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Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.

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