You don't spend frivously and save $950.00 of your take home pay at the end of every six months for 15 years. This money will help your kids buy their first home. If interest is 3% compounded monthly, how much will you have accumulated in 15 years? 2. how long will it take in years for sarah to save $10,000 by depositing $300 every six months into her account at 4.5% compounded semi-annually?

You don't spend frivously and save $950.00 of your take home pay at the end of every six months for 15 years. This money will help your kids buy their first home. If interest is 3% compounded monthly, how much will you have accumulated in 15 years? 2. how long will it take in years for sarah to save $10,000 by depositing $300 every six months into her account at 4.5% compounded semi-annually?

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 6E

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