Answer to Question #143841 in Microeconomics for Taif

Question #143841

Salma makes six EOY deposits of OMR 4,000 each in a savings account paying 7% compounded annually. If the accumulated account balance is withdrawn at the end of the 6th year, how much money will be withdrawn?

Expert's answer

"4000*\\frac{1.07*(1-1.07^6)}{1-1.07}=30,616.1"

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