Question
Ali invested $1000 at the end of every six months for six years followed by $1250 at the end of every six months for three
Ali invested $1000 at the end of every six months for six years followed by $1250 at the end of every six months for three more years. If his investment was earning 3.25% compounded semi-annually, what will be the accumualted amount at the end of the nine-year period?
Answer is: $22,277.75
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Fundamentals of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
12th edition
978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359
