If you deposit $5,000 in a bank account that pays 10% interest annually to buy a car after you graduate from college, how much would be in your account after 5 years? Group of answer choices $5,000 $8,053 $5,900 $10,000
If you deposit $5,000 in a bank account that pays 10% interest annually to buy a car after you graduate from college, how much would be in your account after 5 years? Group of answer choices $5,000 $8,053 $5,900 $10,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 5CE
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Question
If you deposit $5,000 in a bank account that pays 10% interest annually to buy a car after you graduate from college, how much would be in your account after 5 years?
Group of answer choices
$5,000
$8,053
$5,900
$10,000
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