Question
A man plans to deposit his semiannual bonus of $2,000 in an account paying 4% interest rate every 6 months. How much will he have
A man plans to deposit his semiannual bonus of $2,000 in an account paying 4% interest rate every 6 months. How much will he have in the account just after he makes the 8th deposit? (round you answer to the nearest cent)
Group of answer choices
$14,004.11
$13,465.49
$50,000.00
$18,428.45
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Financial Management Theory and Practice
Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason
2nd Canadian edition
176517308, 978-0176517304
