How much money does walter have in his account

Reference no: EM132181813

Question - Suppose that Walter makes 8 deposits into an account at the end of each year for 8 years with an effective annual interest rate of 6.1678%.

a) How much money does Walter have in his account after 8 years?

b) How much money does Walter have in his account after 13 years?

c) Why is the answer to b) different than the answer to a)?

Reference no: EM132181813

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