Suppose you deposit 1000 in 3 payments of 333.333 each on January 1 of 2007 2008 and 2009 How much would you have in your account on January 1 2009 based on 8 percent annual compounding
Suppose you deposit 1000 in 3 payments of 333.333 each on January 1 of 2007 2008 and 2009 How much would you have in your account on January 1 2009 based on 8 percent annual compounding
{[(333.333 * 1.08) + 333.333)] * 1.08} + 333.333 =
$1,082.13
($1082.13225)
