Question
You placed $1,477 in a savings account today that earns an annual interest rate of 11.09 percent, compounded semiannually. How much will you have in
You placed $1,477 in a savings account today that earns an annual interest rate of 11.09 percent, compounded semiannually. How much will you have in this account at the end of 36 years? Assume that all interest received at the end of the period is reinvested the next period.
Round the answer to two decimal places.
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Handbook Of The Economics Of Finance Volume 2A
Authors: George M. Constantinides, Milton Harris, Rene M. Stulz
1st Edition
0444535942, 978-0444535948
