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How much will have in account on january

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It is now January 1, 2019. Suppose you deposit three equal payments into your account on January 1 of 2020, 2021, and 2022. Assuming an 8% interest rate, how large must your payments be to have the same ending balance as in #1

Question 1: It is now January 1, 2019. Today you will deposit $1,000 into a savings account that pays 8%. If the bank compounds interest annually, how much will you have in your account on January 1, 2022?

Reference no: EM132651966

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