months, Paola has deposited $1,000 every two weeks in a bank that pays 0.5% compounded bi-weekly on the deposited amounts. At the end of the deposit period, she does not withdraw the amount but leaves it in the account for an additional 5 months. What is the amount withdrawn at the
months, Paola has deposited $1,000 every two weeks in a bank that pays 0.5% compounded bi-weekly on the deposited amounts. At the end of the deposit period, she does not withdraw the amount but leaves it in the account for an additional 5 months. What is the amount withdrawn at the
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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7.- For 10 months, Paola has deposited $1,000 every two weeks in a bank that pays 0.5% compounded bi-weekly on the deposited amounts. At the end of the deposit period, she does not withdraw the amount but leaves it in the account for an additional 5 months. What is the amount withdrawn at the end of the fifteenth month?
Options:
22051.99
23575.28
21344.18
20979.12
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