Answer to Question #51277 in Finance for mohammed abdu
then allow the account to compound for an additional 10 years, how much will be in
the account at the end of the 20th year? Assume that the account earns 10% and
round to the nearest RM100.
FV = 200*(1.1+1.1^2+1.1^3+1.1^4+1.1^5+1.1^6+1.1^7+1.1^8+1.1^9+1.1^10)*1.1^10 = 9094.27 will be on account at the end of 20 years.
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