3 A bank account pays 5 % annual interest compounded semiannually. How much money should be deposited in it now so that the account contains 10000 Rials at the end of 11 years? (Give your answer to the nearest Rial)
3 A bank account pays 5 % annual interest compounded semiannually. How much money should be deposited in it now so that the account contains 10000 Rials at the end of 11 years? (Give your answer to the nearest Rial)
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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