You decide to save up for a big trip and deposit 1,268 in a special vacation account today. If your account earns 7.89% annually, how much will you have available to spend in 5 years? Round to two decimal places (Ex. $0,000.00)

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 7CE
Question
You decide to save up for a big trip and deposit 1,268 in a special vacation account today. If
your account earns 7.89% annually, how much will you have available to spend in 5 years?
Round to two decimal places (Ex. $0,000.00)
Transcribed Image Text:You decide to save up for a big trip and deposit 1,268 in a special vacation account today. If your account earns 7.89% annually, how much will you have available to spend in 5 years? Round to two decimal places (Ex. $0,000.00)
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