Jacqueline invests $12000 for 8 years and 8 months. The account earns 11% semiannually. What is n for the compound interest part? A)What is the future value after the compound interest part? B) Simple interest is used for how many months? C) Assuming simple interest for the partial period, how much money does Jacqueline have in the account at the end of 8 years and 8 months?
Jacqueline invests $12000 for 8 years and 8 months. The account earns 11% semiannually. What is n for the compound interest part? A)What is the future value after the compound interest part? B) Simple interest is used for how many months? C) Assuming simple interest for the partial period, how much money does Jacqueline have in the account at the end of 8 years and 8 months?
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 5E
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Jacqueline invests $12000 for 8 years and 8 months. The account earns 11% semiannually. What is n for the
A)What is the
B) Simple interest is used for how many months?
C) Assuming simple interest for the partial period, how much money does Jacqueline have in the account at the end of 8 years and 8 months?
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VIEWStep 2: Computation of 'n' for the compound interest part?
VIEWStep 3 Computation of future value after the compound interest part
VIEWStep 4:Simple interest is used for how many months?
VIEWStep 5:how much money does Jacqueline have in the account at the end of 8 years and 8 months?
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