Ali deposits BD 2,500 in a savings account that pays interest at the rate of 5.5% per year, compounded annually. If all ofthe money is allowed to accumulate, how much money will the student have after 14 years?

Given information : Deposits 2500 Interest rate 5.50% Time period (years) 14 The given…

Ali deposits BD 2,500 in a savings account that pays interest at the rate of 5.5% per year, compounded annually. If all of he money is allowed to accumulate, how much money will the student have after 14 years?

Ali deposits BD 2,500 in a savings account that pays interest at the rate of 5.5% per year, compounded annually. If all of he money is allowed to accumulate, how much money will the student have after 14 years?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Ali deposits BD 2,500 in a savings account that pays interest at the rate of 5.5% per year, compounded annually. If all of
the money is allowed to accumulate, how much money will the student have after 14 years?

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Ali deposits BD 2,500 in a savings account that pays interest at the rate of 5.5% per year, compounded annually. If all of the money is allowed to accumulate, how much money will the student have after 14 years?
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Shelly deposits the $2000 she got as a birthday gift from her grandmother into an account earning 3.6% interest compounded monthly. She decides to also deposit $200 at the end of each month into the same account. How much will be in the account in 10 years?
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