Barbara makes four consecutive annual deposits of $2,000 in a savings account that pays interest at a rate of 10% compounded semiannually. How much money will be in the account 2 years after the last deposit?
Barbara makes four consecutive annual deposits of $2,000 in a savings account that pays interest at a rate of 10% compounded semiannually. How much money will be in the account 2 years after the last deposit?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
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Barbara makes four consecutive annual deposits of $2,000 in a savings account that pays interest at a rate of 10% compounded semiannually. How much money will be in the account 2 years after the last deposit?
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