Yu will deposit your savings in an account that pays 62 , Financial Management

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Yu will deposit your savings in an account that pays 62

Question

You want to buy a new old boat 2 years from now, and you plan to save $7,000 per year, beginning one year from today, you will deposit your savings in an account that pays 6.2 % interest, how much will you have just after you make the 2nd deposit, 2 years from now?

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Financial Management: Yu will deposit your savings in an account that pays 62

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