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How much will be accumulated on January

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Problem - Present Value and Future Value - The following situations involve time value of money calculations: A deposit of $7,000 is made on January 1, 2016. The deposit will earn interest at a rate of 8%. How much will be accumulated on January 1, 2021, assuming that interest is compounded (a) annually, (b) semiannually, and (c) quarterly?

Reference no: EM132865670

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