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I presently have $10,000 in the bank. At the beginning of each of the next 20...

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Advance Math

I presently have $10,000 in the bank. At the beginning of eachof the next 20 years, I will invest $4,000, and I expect to earn 6%interest per year. After 20 years I pay $15,000 in closeout fees onon the investment. At the end of the investment and fees how muchmoney will I have? (answer $108,900).

I was given the answer from the professor I just need to knowhow to calculate this answer on Excel with formulas.

Answer & Explanation Solved by verified expert
3.8 Ratings (381 Votes)
As per the information given in the questionInitial amount in the bank 10000Yearly investment 4000 for 20 years 4000 each    See Answer
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