$1,200 is deposited every six months in an account that earns 2% compounded semi-annually, how many full deposits of semi-annual periods will it take to reach $15,000.00? What is the amount of the smaller concluding deposit? It will take semi-annual periods of full deposits. The smaller concluding deposit is $ . (Round to 2 decimal places.
$1,200 is deposited every six months in an account that earns 2% compounded semi-annually, how many full deposits of semi-annual periods will it take to reach $15,000.00? What is the amount of the smaller concluding deposit? It will take semi-annual periods of full deposits. The smaller concluding deposit is $ . (Round to 2 decimal places.
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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If $1,200 is deposited every six months in an account that earns 2% compounded semi-annually, how many full deposits of semi-annual periods will it take to reach $15,000.00? What is the amount of the smaller concluding deposit? It will take semi-annual periods of full deposits. The smaller concluding deposit is $ .
(Round to 2 decimal places.)
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