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?

how are these answers obtained?

Rate Compounded half yr rate Monthly rate 8.00% 2 times/yr 4.00% 0.66% a. # deposits PV 1 period before 1st Value at end i.e. 30 periods later 30 500 $ 13,576.36 $ 16,517.72 b.c. The same