Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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You plan to make a total of 7 deposits of $11,000 each year with the first payment
being made one year from today. The bank pays a nominal interest rate of 9%
annually. How much your account with the bank be if you leave the money in the
bank to be withdrawn all in 19 years from today?
Round to the nearest $0.01. DO NOT use the $ sign. DO NOT USE commas to separate thousands
For example if you obtain $1,433.728 then enter 1433.73; if you obtain $432 then enter 432.00
Your Answer:
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Transcribed Image Text:Listen You plan to make a total of 7 deposits of $11,000 each year with the first payment being made one year from today. The bank pays a nominal interest rate of 9% annually. How much your account with the bank be if you leave the money in the bank to be withdrawn all in 19 years from today? Round to the nearest $0.01. DO NOT use the $ sign. DO NOT USE commas to separate thousands For example if you obtain $1,433.728 then enter 1433.73; if you obtain $432 then enter 432.00 Your Answer: Answer
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