Question
You have just received $100,000 as winning from the lottery. You decided to put all the winnings into a fixed deposit account that will mature
You have just received $100,000 as winning from the lottery. You decided to put all the winnings into a fixed deposit account that will mature in 5 years. The account pays 6 percent per year, compounded semi-annually. How much will you have at end of 5 years?
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Finance Applications And Theory
Authors: Marcia Cornett, Troy Adair, John Nofsinger
5th Edition
1260013987, 9781260013986
