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Managerial Accounting Question - Present Value Computation

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Managerial Accounting Question - Present Value Computation

John Smith made a deposit into his savings account 3 years ago and earned interest at an annual rate of 8%. The deposit accumulated to $19,000. How much was initially deposited assuming that the interest was compounded annually, semiannually, and quarterly? How compute the semianually and quarterly amounts?

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Managerial Accounting Question - Present Value Computation

Reference no: EM132473207

Reference no: EM132473207

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