What is the future worth of a series of equal year-end deposits of $3,000 for 15 years in a savings account that earns 9%
annual interest if the following were true?
(a) All deposits are made at the end of each year?
(b) All deposits are made at the beginning of each year?
Deposit Amount
Number of Years
Annual Interest Rate
$3,000
15
9%
Complete the steps below using cell references to given data or previous calculations. In some cases, a simple cell
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which the data is found. Make your computations only in the blue cells highlighted below. In all cases, unless
otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data section.
(a) Future Worth (F)
(b) Future Worth (F)