Calculated deposit needed you put 1000 in an account


Calculated Deposit needed: you put $1,000 in an account earning 5%. After 3 years, you make another deposit into the same account. Four years later (that is, 7 years after your original $10,000 deposit), the account balance is $20,000. What was the amount of the deposit at the end of year 3?

Solution Preview :

Prepared by a verified Expert
Business Management: Calculated deposit needed you put 1000 in an account
Reference No:- TGS02604044

Now Priced at $10 (50% Discount)

Recommended (92%)

Rated (4.4/5)