Margaret plans to deposit $500 on the first day of each of the next five years, beginning today. if she earns 4% compounded annually, how much will she have at the end of fi…

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asked Jan 6, 2018 231k views

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Darshan Dhoriya · Answer 1 · 2018-01-11T19:06:15+0000

Future Value: Total =$3,424.81
Deposits: = $ $3,424.81
Interest Earned: $424.81

The question is unclear, I calculated $500 yearly deposit with the compound.

Margaret plans to deposit $500 on the first day of each of the next five years, beginning today. if she earns 4% compounded annually, how much will she have at the end of fi…

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Margaret plans to deposit​ $500 on the first day of each of the next five​ years, beginning today. if she earns​ 4% compounded​ annually, how much will she have at the end of fi…

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Margaret plans to deposit $500 on the first day of each of the next five years, beginning today. if she earns 4% compounded annually, how much will she have at the end of fi…