Suppose you deposited 5000 in a savings account which earns an annual compound interest of...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Suppose you deposited 5000 in a savings account which earns an annual compound interest of 0.09, what is the value of money in the savings account after25 years what is the value of money ?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!