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1. What is the balance in a bank account at the end of 10 years if...

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Accounting

1. What is the balance in a bank account at the end of 10 yearsif $2,500 is deposited today and the account earnd 4% interestcompounded annually? Quarterly?

2. If you deposit $10 in an account that pays 5% inteterst,compounded annually, how much will you have at the end of 10 years?20 years? 50 years?

3. Suppose you deposit $100,000 in an account today that pays 6%interest, compounded annually. How long does it take before thebalance in your account is $500,000?

Answer & Explanation Solved by verified expert
4.1 Ratings (737 Votes)
Solution 1 We use the formula AP1r100n Where A future value p present value r rate of interest n time of period A 2500 10410 2500    See Answer
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