Question
Rates are 8% p.a. compounded semi-annually. a. You are going to make 30 monthly deposits of $500 each into your bank account starting in exactly
Rates are 8% p.a. compounded semi-annually.
a. You are going to make 30 monthly deposits of $500 each into your bank account starting in exactly 1 month. How much will you have immediately after the last deposit?
b. You are going to make 30 monthly deposits of $500 each into your bank account starting in exactly 7 months. How much will you have immediately after the last deposit?
c. You made the first of 30 monthly deposits of $500 each into your bank account exactly 7 months ago. How much will you have immediately after the last deposit?
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Fundamentals Of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 10th Edition
1337902578, 978-1337902571
