A man deposited 500000 in an investment which pays 12% per annum interest compounded quarterly per year.Find the accumulated interest in his account after 4 years?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1P
Question
A man deposited 500000 in an investment which pays 12% per annum interest compounded quarterly per year.Find the accumulated interest in his account after 4 years?
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