On October 1, Lorelai made a single deposit of $12,000 into an investment account which earns interest of 8% compounded annually. Question: Rounded to the nearest whole dollar, what will be the balance in her account at the end of nine (9) years?
On October 1, Lorelai made a single deposit of $12,000 into an investment account which earns interest of 8% compounded annually. Question: Rounded to the nearest whole dollar, what will be the balance in her account at the end of nine (9) years?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1P
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On October 1, Lorelai made a single deposit of $12,000 into an investment account which earns interest of 8% compounded annually.
Question: Rounded to the nearest whole dollar, what will be the balance in her account at the end of nine (9) years?
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