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please solve these two problems without using excel and show all steps. Question No.23 An account earns interest at a rate such that d12) =
please solve these two problems without using excel and show all steps.
Question No.23 An account earns interest at a rate such that d12) = 0.06. Calculate the total amount of interest earned in this account over a 10-year period if semi-annual deposits of 50 are made at the beginning of each 6-month period. A. 392 B. 442 C. 492 D. 542 E. 592 Question No.24 Jacob invests 700 at t=0 at a nominal annual interest rate of 8% convertible quarterly. What additional amount will Jacob need to withdraw at 1=4 in order to have a total 1,000 at t = 62 A. 102.84 B. 107.46 C. 111.62 D. 115.94 E. 119.38 Step by Step Solution
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