Question
An amount of $7500 is deposited into a savings account at an annual interest rate of 6.60%. The interest is compounded semi annually. There are
An amount of $7500 is deposited into a savings account at an annual interest rate of 6.60%.
The interest is compounded semi annually.
There are additional deposits of $100 per every 6 months (made at the end of each semi-annual period).
What is the accumulated value of the investment after 3 years?
Round up to nearest dollar.
| a. | $7,992 | |
| b. | FV = $9,765 | |
| c. | FV= $9,882 | |
| d. | FV = $8,982 |
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International Finance Transactions Policy And Regulation
Authors: Hal S. Scott
15th Edition
159941547X, 978-1599415475
