You deposit R5000 into an account at the beginning of each year for 6 years. The account pays 7% interest compounded semi-annually. How much will you have at the end of that time?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
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You deposit R5000 into an account at the beginning of each year for 6 years.
The account pays 7% interest compounded semi-annually. How much will you
have at the end of that time?
R
Transcribed Image Text:You deposit R5000 into an account at the beginning of each year for 6 years. The account pays 7% interest compounded semi-annually. How much will you have at the end of that time? R
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