Question
Sandra is saving 500,000 per year in a savings account that is paying an annual compound interest of 5% she intends to continue this for
Sandra is saving 500,000 per year in a savings account that is paying an annual compound interest of 5% she intends to continue this for three years after which she will move to jmmb’s long-term fund which pays interest at 10% per annum compounded semi-annually.
how much should Sandra be able to transfer to jmmb after three years?
how much money will Sandra have at the end of eight years from today?
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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9781337909402, 978-1337788281
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