Alan Angel made deposits of $400 semiannually to Sag Bank, which pays 10% interest compounded semiannually. After 4 years, Alan made no more deposits. What will be the balance in the account 3 years after the last deposit?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1EA: Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest...
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Alan Angel made deposits of $400 semiannually to Sag Bank, which pays 10% interest compounded semiannually. After 4 years, Alan made no more deposits. What will be the balance in the account 3 years after the last deposit?

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