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    Contemporary Business Mathematics Study Set 1
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    Exam 9: Compound Interest - Future Value and Present Value
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    How Much Would You Have to Deposit in an Account
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How Much Would You Have to Deposit in an Account

Question 58

Question 58

Essay

How much would you have to deposit in an account today to have $37 000.00 in a three-year term deposit at maturity if interest is 7.775% compounded annually?

Correct Answer:

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FV = 37000.00; m = 1; i = 7.77...

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