Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Amishi deposited $400, at the end of each six months for 19 years in a savings account. If the account paid 4% interest, compounded semiannually,

image text in transcribed

Amishi deposited $400, at the end of each six months for 19 years in a savings account. If the account paid 4% interest, compounded semiannually, use the appropriate formula to find the future value of her account. (Round your answer to the nearest cent.) Need Help? Read It Watch It Master It Submit Answer 5. [-70.71 Points] DETAILS BRECMBC9 12.1.021.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Use the appropriate formula to find the future value (in $) of $700 deposited at the beginning of every six months, for 19 years if a bank pays 8% interest, compounded semiannually. (Round your answers to the nearest cent.) $ Need Help? Read It Watch It Master It

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practical financial management

Authors: William r. Lasher

5th Edition

0324422636, 978-0324422634

More Books

Students also viewed these Finance questions