Question
$8,000is deposited at the end of each half year in an account that earns6.2% compounded semiannually until $200,000has accumulated in the account. Fill in the
$8,000is deposited at the end of each half year in an account that earns6.2% compounded semiannually until $200,000has accumulated in the account.
Fill in the blanks.
This scenario describes the( a or b)
a. Future Value of an Annuity Due
b. Future Value of an Ordinary Annuity
After how many half years will the account contain $200,000? (Round your answer to one decimal place.)
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Essentials of Business Driven Information Systems
Authors: Paige Baltzan, Amy Phillips
1st edition
1260004716, 978-0073376721
