Hugh Colson deposited $20,000 in a special savings account that provides for interest at the annual rate
Question:
Hugh Colson deposited $20,000 in a special savings account that provides for interest at the annual rate of 12% compounded semiannually if the deposit is maintained for four years.
Required
Calculate the balance of the savings account at the end of the four-year period.
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Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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