Answered: How much would be in your savings…

How much would be in your savings account in 7 years after depositing $100 today if the bank pays 5 percent interest per year?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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Question

How much would be in your savings
account in 7 years after depositing $100
today if the bank pays 5 percent
interest per year?

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