If you invest $2,000 every year in an account that pays 7% APR, compounded daily, how much will you have in the account at the end of 17 years? Assume you make the first deposit exactly one year from now, and you make a total of 17 deposits".

If you invest $2,000 every year in an account that pays 7% APR, compounded daily, how much will you have in the account at the end of 17 years? Assume you make the first deposit exactly one year from now, and you make a total of 17 deposits".

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

"If you invest $2,000 every year in an account that
pays 7% APR, compounded daily, how much will
you have in the account at the end of 17 years?
Assume you make the first deposit exactly one
year from now, and you make a total of 17
deposits."
Show all work.

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