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09-14-2007, 12:59 AM
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Finance Homework Help #3?
"Suppose I put $10,000 in a bank account paying 6% interest annually. I intend to take $5,000 in five years, and another $5,000 in ten years. How much will be left in the account after I make my last withdrawal?"
Answer using the time value of money... FV=PV(1+i)^n
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