can you please explain how they got this? 3) Angelo plans to invest an equal amount of $2,000 every six months beginning this year. Theexpected semi-annual return is 7%. He plans invest for 20 years. How much could he expect tohave at the end of 20 years?n=40a) $204,888b) $208,678c) $395,678d) $397,456e) None of the above7% A-2 tableFV=$2,000 x 199.635 = 399,270.00

This is the case of an ordinary annuity. The semi-annual payments of $2,000 is an ordinary annuity…

3) Angelo plans to invest an equal amount of $2,000 every six months beginning this year. The expected semi-annual return is 7%. He plans to invest for 20 years. How much could he expect to have at the end of 20 years? a) $204,888 b) $208,678 c) $395,678 d) $397,456 e) None of the above =40 7% A-2 table FV=$2,000 x 199.635 = 399,270.00

3) Angelo plans to invest an equal amount of $2,000 every six months beginning this year. The expected semi-annual return is 7%. He plans to invest for 20 years. How much could he expect to have at the end of 20 years? a) $204,888 b) $208,678 c) $395,678 d) $397,456 e) None of the above =40 7% A-2 table FV=$2,000 x 199.635 = 399,270.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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