Drew Wallace has made deposits at the end of each year into a registered savings account for the past 10 years,with his final deposit being made today.He deposited $2500 for the first 5 years and $2000 for the last 5 years.The account earned interest at j = 8%.How much is in his account today (just after his final deposit) ? (answer to the nearest dollar)
A) $17,967
B) $22,652
C) $26,400
D) $33,283
Correct Answer:
Verified
Q2: A payment of $25,000 is due on
Q3: You deposit $300 every 3-months.Your first deposit
Q4: Deposits of $2000 are made every 6-months
Q5: You deposit $3000 every 6-months into a
Q6: You make quarterly deposits of $500.The first
Q7: Deposits of $1500 are made every 3
Q8: You begin making monthly deposits of $400
Q9: Billy deposits $500 every 3-months in a
Q10: Ken Tuckey takes out a loan today
Q11: A loan is to be repaid with
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents