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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?

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Wiki User
July 14, 2009 6:33AM

{[(333.333 * 1.08) + 333.333)] * 1.08} + 333.333 =

$1,082.13 ($1082.13225)


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