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Your bank account pays a nominal interest rate of 1 1 % , compounded semi - annually. Your plan is to deposit $ 2 ,

Your bank account pays a nominal interest rate of 11%, compounded semi-annually. Your plan is to deposit $2,400 in the account at the end of each of the next 10 years. How much will you have in the account at the end of year 10, after making your final deposit? (Hint: The annuity payments dont match compounding periods.
  

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Youre right the deposit schedule yearly doesnt exactly match the compounding frequency semiannual To calculate the future value in this scenario we ca... blur-text-image

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