You've decided to deposit your money in the bank at the beginning of the year...

80.2K

Verified Solution

Question

Accounting

image
You've decided to deposit your money in the bank at the beginning of the year instead of the end of the year, but now you are making payments of $7,000 at an annual interest rate of 8%. How much money will you have available at the end of seven years-rounded to the nearest whole doliar? $62,460 547,220 $94,440 567,457

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