Question

a man deposit 2000 in a bank today at a rate of 4% per annum. after 2
years he deposit another 4,000 in five years, he wil withdraw 6000,
how much money does he have on the 6th year

Accepted Answer

Compounding the investment today will inform the future value of the
investment.

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Hence the balance on 6th year will be $970.07

Question #189726

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