Future Value Computation Stan Smith deposited $5,000 in a savings account today. The deposit will...
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Future Value Computation Stan Smith deposited $5,000 in a savings account today. The deposit will earn interest at the rate of eight percent. How much will be available for Stan to withdraw in four years, assuming interest is compounded (a) annually, (b) semiannually, and (c) quarterly? Use Excel or a financial calculator for computation. Round answers to the nearest whole number. (a) Annually Answer (b) Semiannually Answer (c) Quarterly
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