(Related to Checkpoint 5.2) (Future value) If you deposit $4,000 today into an account earning an annual rate of return of 9 percent, what would your account be worth in 40 years (assuming no further deposits)? In 45 years? a. If you deposit $4,000 today into an account earning an annual rate of return of 9 percent, what would your account be worth in 40 years? $(Round to the nearest cent.)
(Related to Checkpoint 5.2) (Future value) If you deposit $4,000 today into an account earning an annual rate of return of 9 percent, what would your account be worth in 40 years (assuming no further deposits)? In 45 years? a. If you deposit $4,000 today into an account earning an annual rate of return of 9 percent, what would your account be worth in 40 years? $(Round to the nearest cent.)
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter4: Managing Your Cash And Savings
Section: Chapter Questions
Problem 7FPE: Calculating interest earned and future value of savings account. If you put 6,000 in a savings...
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![(Related to Checkpoint 5.2) (Future value) If you deposit $4,000 today into an account earning an annual rate of return of 9 percent, what would your account be worth in 40 years (assuming no further deposits)? In 45 years?
a. If you deposit $4,000 today into an account earning an annual rate of return of 9 percent, what would your account be worth in 40 years?
$(Round to the nearest cent.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3c40ac88-2f52-4513-b07d-282471f8d832%2Fb8c87609-7388-469a-93b2-495a56be1a66%2F223njf_processed.png&w=3840&q=75)
Transcribed Image Text:(Related to Checkpoint 5.2) (Future value) If you deposit $4,000 today into an account earning an annual rate of return of 9 percent, what would your account be worth in 40 years (assuming no further deposits)? In 45 years?
a. If you deposit $4,000 today into an account earning an annual rate of return of 9 percent, what would your account be worth in 40 years?
$(Round to the nearest cent.)
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