In: Finance
If you deposit $10,000 in a bank account that pays 6% interest annually, how much will be in your account after 5 years (to two decimal places)?
Answer to the nearest cent xxx.xx and enter without the dollar sign.
Calculations-
Here, | ||
Fv is the future value of amount invested | ||
rate is the periodic interest rate | ||
nper is no. of periods | ||
pmt is the periodic payments | ||
Pv is the present value of investmet | ||
type = 0 if the amount is paid at the end of the year ,1 if it is paid at the beginning. |
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