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It is now January 1. You plan to make a total of 5 deposits of $600each, one every 6 month

It is now January 1. You plan to make a total of 5 deposits of $600each, one every 6 month

It is now January 1. You plan to make a total of 5 deposits of $600each, one every 6 months, with the first payment being made today.The bank pays a nominal interest rate of 10% but uses semiannualcompounding. You plan to leave the money in the bank for 15 years.How much will be in your account after 15 years? Round your answerto the nearest cent.

Abhinav 04-Dec-2019

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