You put $280 in the bank for 5 years at 8%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. Round your answers to 2 decimal places. Year Money in the bank 1 $fill in the blank 1 2 $fill in the blank 2 3 $fill in the blank 3 4 $fill in the blank 4 5 $fill in the blank 5 B. Use the future value of $1 table and verify that your answer is correct. Round your future value factor to three decimal places and final answer to 2 decimal places. $fill in the blank 6
You put $280 in the bank for 5 years at 8%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. Round your answers to 2 decimal places. Year Money in the bank 1 $fill in the blank 1 2 $fill in the blank 2 3 $fill in the blank 3 4 $fill in the blank 4 5 $fill in the blank 5 B. Use the future value of $1 table and verify that your answer is correct. Round your future value factor to three decimal places and final answer to 2 decimal places. $fill in the blank 6
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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You put $280 in the bank for 5 years at 8%.
A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. Round your answers to 2 decimal places.
Year | Money in the bank |
1 | $fill in the blank 1 |
2 | $fill in the blank 2 |
3 | $fill in the blank 3 |
4 | $fill in the blank 4 |
5 | $fill in the blank 5 |
B. Use the future value of $1 table and verify that your answer is correct. Round your future value factor to three decimal places and final answer to 2 decimal places.
$fill in the blank 6
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