You want to quit your job and return to school for an MBA degree 3 years from now, and you plan to save $5,900 per year, beginning immediately. You will make 3 deposits in an account that pays 6.2% interest. Under these assumptions, how much will you have 3 years from today? a. $19,605.44 Ob. $19,840.95 c. $23,330.48 d. $19,986.92 e. $21,173.88 1

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...
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You want to quit your job and return to school for an MBA degree 3 years from now,
and you plan to save $5,900 per year, beginning immediately. You will make 3
deposits in an account that pays 6.2% interest. Under these assumptions, how much
will you have 3 years from today?
a. $19,605.44
Ob. $19,840.95
c. $23,330.48
d. $19,986.92
e. $21,173.88
Transcribed Image Text:You want to quit your job and return to school for an MBA degree 3 years from now, and you plan to save $5,900 per year, beginning immediately. You will make 3 deposits in an account that pays 6.2% interest. Under these assumptions, how much will you have 3 years from today? a. $19,605.44 Ob. $19,840.95 c. $23,330.48 d. $19,986.92 e. $21,173.88
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