Question
$5,000 is deposited today into a bank account. The account earns 4.2% per annum compounded half yearly for the first 4 years, then 5.1% per
$5,000 is deposited today into a bank account. The account earns 4.2% per annum compounded half yearly for the first 4 years, then 5.1% per annum compounded quarterly thereafter. Assuming no further deposits or withdrawals are made,
(a) Calculate the account balance six months from today.
(b) Calculate the account balance 4 years from today
(c) Calculate the account balance 4.5 years from today.
(d) Calculate the account balance 10 years from today.
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The Ascendancy Of Finance
Authors: Joseph Vogl, Simon Garnett
1st Edition
1509509305, 978-1509509300
