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Testbank Exercise 136 * Your answer is incorrect. Try again. If $88,000 is deposited annually starting...

Question

Testbank Exercise 136 * Your answer is incorrect. Try again. If $88,000 is deposited annually starting...

Testbank Exercise 136 * Your answer is incorrect. Try again. If $88,000 is deposited annually starting on January 1, 2020 and

Testbank Exercise 136 * Your answer is incorrect. Try again. If $88,000 is deposited annually starting on January 1, 2020 and it earns 8%, how much will accumulate by December 31, 2029? (Round factor values to 5 decima places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Click here to view factor tables Future value 1010900 Click if you would like to Show Work for this question: Open Show Work

Answers

Number of deposits 10
Amount of Deposit 88000
X Future value factor 15.64549 =((1.08)^11-1)/0.08-1
Future value 1376803


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