Calculate the compounded future value

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Reference no: EM131505651

Question: 1. You just inherited $10,000. While you plan to squander some of it away, how much should you deposit in an account earning 5% interest per year if you'd like to have $10,000 in the account in 10 years?

2. Calculate the compounded future value of 20 annual payments of $5,000 each into a savings account that earns 6% per year. All 20 payments are made at the beginning of each year.

Reference no: EM131505651

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