If the sum of $7000 is deposited now, $5000 two years from now, and $2000 per year in years 4 through 8, determine the accumulated amount in year 8 if interest rate is 10% per year
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Answered by
1
Answer:
$30800
Step-by-step explanation:
7000+5000+2000=14000
4yrs=$14000
8
8×14000÷4=28000
=$28000
10%×28000=$2800
28000+2800=30800
Answered by
1
Answer:
answer is 30800
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