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Using an Appropriate Compound Interest Table, Answer the Following Question

Question 113

Essay

Using an appropriate compound interest table, answer the following question.
Required:
What is the future amount on December 31, 2024, of eleven deposits of $12,000 each with the first deposit being made on December 31, 2014, and interest at 12% compounded annually?

Correct Answer:

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FVO = C × fOn = 11, ...

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