Ron has made deposits of $179.00 into his savings account at the end of every month for 18 years. If interest is 10% per annum compounded semi-annually and he leaves the accumulated balance for another 5 years, what would be the balance in his account then? The balance in his account would be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Ron has made deposits of $179.00 into his savings account at the end of every month for 18 years. If interest is 10% per annum compounded semi-annually and he leaves the accumulated balance for another 5 years, what would be the balance in his account then? The balance in his account would be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
Related questions
Question
Please don't provide handwriting solution
Transcribed Image Text:Ron has made deposits of $179.00 into his savings account at the end of every month for 18 years. If interest is 10% per annum compounded semi-annually and he leaves the accumulated balance for another 5 years, what would be the balance
in his account then?
The balance in his account would be $.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 2 images
Recommended textbooks for you