Homework Help: Economics

Posted by manny on Thursday, February 21, 2013 at 3:59pm.

Ben deposits $5000 now into an account that earns 7.5 percent interest compounded annually. He then deposits $1000 per year at the end of the first and second years.

How much will the account contain 10 years after the initial deposit?

Economics - T-perry, Thursday, February 21, 2013 at 4:02pm
Multiply $5000 by 10 years

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