Ms. Aay is considering to deposit $500 every six months, and would receive interest at an annual rate of 8%, compounded semi- annually. The initial deposit would be made six months from now. What is the future (terminal) value of this deposit at the end of 10 years? Answer format: $1,234.56 *

Ms. Aay is considering to deposit $500 every six months, and would receive interest at an annual rate of 8%, compounded semi- annually. The initial deposit would be made six months from now. What is the future (terminal) value of this deposit at the end of 10 years? Answer format: $1,234.56 *

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 14E

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Question

Ms. Aay is considering to deposit $500 every
six months, and would receive interest at an
annual rate of 8%, compounded semi-
annually. The initial deposit would be made
six months from now. What is the future
(terminal) value of this deposit at the end of
10 years? Answer format: $1,234.56 *

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