Braden deposited 7000 in a guaranteed investment account, Financial Management

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Braden deposited 7000 in a guaranteed investment account

Braden deposited $7,000 in a guaranteed investment account with a promised rate of 5% compounded annually. He plans to leave it there for 9 full years when he will make a down payment on a car after graduation. How much of a down payment will he be able to make?

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Financial Management: Braden deposited 7000 in a guaranteed investment account

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