Question
You placed $2,772 in a savings account today that earns an annual interest rate of 8.84 percent, compounded semiannually. How much will you have in
You placed $2,772 in a savings account today that earns an annual interest rate of 8.84 percent, compounded semiannually. How much will you have in this account at the end of 37 years? Assume that all interest received at the end of the period is reinvested the next period.
Round the answer to two decimal places. show work and formula.
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Managerial Accounting
Authors: John J Wild, Ken W. Shaw, Barbara Chiappetta
7th edition
1260482936, 978-1260482935
