You are going to save money for your son’s education. You have decided to place $4,146 every half year at the end of the period into a saving account earning 9.51 percent per year, compounded semi-annually for the next 3 years. How much money will be in the account at the end of that time period?
You are going to save money for your son’s education. You have decided to place $4,146 every half year at the end of the period into a saving account earning 9.51 percent per year, compounded semi-annually for the next 3 years. How much money will be in the account at the end of that time period?
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.18E
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You are going to save money for your son’s education. You have decided to place $4,146 every half year at the end of the period into a saving account earning 9.51 percent per year, compounded semi-annually for the next 3 years. How much money will be in the account at the end of that time period?
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