If you want to have $22,431 in fifteen years, how much do you need to deposit in a bank account today? Assume that the annual interest rate is 10% compounded annually. Round your answer to the nearest one dollar.

If you want to have $22,431 in fifteen years, how much do you need to deposit in a bank account today? Assume that the annual interest rate is 10% compounded annually. Round your answer to the nearest one dollar.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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