A deposit of $2,570 is placed into a retirement fund at the beginning of every 6 months for 14 years. The fund earns 3% annual interest, compounded biannually and paid at the end of the 6 months. How much is in the account right after the last deposit? Round your answer to the nearest dollar. Provide your answer below:
A deposit of $2,570 is placed into a retirement fund at the beginning of every 6 months for 14 years. The fund earns 3% annual interest, compounded biannually and paid at the end of the 6 months. How much is in the account right after the last deposit? Round your answer to the nearest dollar. Provide your answer below:
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 10PROB
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