Lets say that you deposit $3,000 at the end of every year in your bank...

70.2K

Verified Solution

Question

Finance

Lets say that you deposit $3,000 at the end of every year in your bank account over the next 12 years and that you earn an interest rate of 8% a year on your deposits. How much money will you have saved? Enter your answer to the nearest whole dollar (ex. $16,432 = 16,432).

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students