Question
Lee Holmes deposited $16,500 in a new savings account at 12% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $41,500
Lee Holmes deposited $16,500 in a new savings account at 12% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $41,500 at 12% interest compounded semiannually.
At the end of 6 years, what is the balance in Lees account?
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Financial Management And Policy
Authors: James C. Van Horne
11th Edition
0137512236, 9780137512232
