Jim makes a deposit of $13,500 in a bank account. The deposit is to earn...
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Jim makes a deposit of $ in a bank account. The deposit is to earn interest compounded annually at the rate of percent for seven years. Required: How much will Jim have on deposit at the end of seven years? Hint: What is future value? Note: Do not round intermediate calculations and round your final answer to the nearest whole dollar. Assuming the deposit earned a percent rate of interest compounded quarterly, how much would he have at the end of seven years?
Jim makes a deposit of $ in a bank account. The deposit is to earn interest compounded annually at the rate of percent for seven years.
Required:
How much will Jim have on deposit at the end of seven years? Hint: What is future value?
Note: Do not round intermediate calculations and round your final answer to the nearest whole dollar.
Assuming the deposit earned a percent rate of interest compounded quarterly, how much would he have at the end of seven years?
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