Today you open a savings account and you plan to deposit, Accounting Basics

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Today you open a savings account and you plan to deposit

Question: Today, you open a savings account and you plan to deposit $1,000 at the end of each year. (Your first deposit will be on December 31,2017) How much money will you have in the account at the end of 2021? The bank pays nominal rate of 7% compounded monthly.

Please work in excel and show each equation used.

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Accounting Basics: Today you open a savings account and you plan to deposit

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