Question
On May 1, 1950, M deposited $100 in a savings account which pays 3% compounded semiannually and continued to make similar deposits every six months
On May 1, 1950, M deposited $100 in a savings account which pays 3% compounded semiannually and continued to make similar deposits every six months thereafter. After May 1, 1962, the bank paid 4% compounded semiannually.
How much will be to his credit just after the deposit on November 1, 1970?
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
