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PS5. Derek will deposit $936.00 per year into an account starting today and ending in year...

PS5.

Derek will deposit $936.00 per year into an account starting today and ending in year 12.00. The account that earns 9.00%. How much will be in the account 12.0 years from today?

Answer format: Currency: Round to: 2 decimal places.

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Answer #1

the account will have

$     20,548.37

at the end of 12th year

the workings are done in excel. formulas used are as follows

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