Question
It is now January 1. You plan to make 5 deposits of $300 each, one every 6 months, with the first payment being made exactly
It is now January 1. You plan to make 5 deposits of $300 each, one every 6 months, with the first payment being made exactly six months from today. If the bank pays a nominal interest rate of 12% but uses semiannual compounding, how much will be in your account exactly 12 years from today?
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Introductory Statistics
Authors: Prem S. Mann
8th Edition
9781118473986, 470904100, 1118473981, 978-0470904107
