Your bank pays 8.00 percent annual interest compounded semiannually on your savings account. You don't expect to add to the current balance of $2,200 over the next four years. How much money can you expect to have at the end of this period? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.) Value of investment after 4 years $
Your bank pays 8.00 percent annual interest compounded semiannually on your savings account. You don't expect to add to the current balance of $2,200 over the next four years. How much money can you expect to have at the end of this period? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.) Value of investment after 4 years $
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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