Solved: If samuel deposits 11040 into a bank account that pays 591, Finance Basics

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If samuel deposits 11040 into a bank account that pays 591

1. If you want to have $5,362 in 33 months, how much money must you put in a savings account today? Assume that the savings account pays 11% and it is compounded monthly. Round to two decimal places.

2. If Samuel deposits $11,040 into a bank account that pays 5.91% interest compounded quarterly, what will the account balance be in 9 years? Round to two decimal points.

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Finance Basics: If samuel deposits 11040 into a bank account that pays 591

Reference No:- TGS02769941

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