A person deposited every 6 months ¢ 50,000.00 in an account that paid him 16% interest, convertible every six months. The first deposit was made when his son was 6 months old and the last one when he was 20 years old. The money continued in the account and the father's indication was that it be delivered monthly in advance from the 24th birthday. At this time, the same rate is maintained and it is converted to monthly capitalization. to. How much was accumulated to that date b. How many monthly payments would your child receive

A person deposited every 6 months ¢ 50,000.00 in an account that paid him 16% interest, convertible every six months. The first deposit was made when his son was 6 months old and the last one when he was 20 years old. The money continued in the account and the father's indication was that it be delivered monthly in advance from the 24th birthday. At this time, the same rate is maintained and it is converted to monthly capitalization. to. How much was accumulated to that date b. How many monthly payments would your child receive

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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