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Unformatted text preview: annual compounding. 4. If you deposit 2000 a year in a savings account that earns 10% interest, how much will you have: A) After 10 years assuming you start your payments at the end of the first year? B) After 10 years assuming you start your payments today (and continue to make a payment at end of year 10). Calculator note: if you set payments to beginning of period and n=10, it will tell you FV as of end of year 10, but it won’t include deposit you make at end of year 10. If you set payments to beginning and n=11, it will tell you FV as of end of year 11. You would need to discount that to end of year 10. ARE 142 Personal Finance Fall 2009  Heather Rose Answers Question 1 A) 386.66 B) 23,199.60 C) 20,000 D) 3,199.60 Question 2 A) 310,867.82 B) 349,100.78 Question 3: 27,791.61 Question 4 A) 31,874.85 B) 37,062.33...
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 Winter '09
 ROSE
 Finance, Englishlanguage films, Deposit account, Money market deposit account, Personal Finance Fall

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