Question
Determine the accumulated value of monthly deposits of $730 each after 6 years if the deposits earn 8.6%/year compounded semi-annually. Assume that the deposits
Determine the accumulated value of monthly deposits of $730 each after 6 years if the deposits earn 8.6%/year compounded semi-annually. Assume that the deposits are made at the end of each month and that compound interest is paid for part of an interest period (i.e. for any fractional interest compounding period).
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
14th edition
978-1305887725, 1305887727, 1305636619, 978-1305636613
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