An engineer deposits $8500 every semiannual(first deposit will be 6 months later) into a savings account that pays interest at a rate of 18% per year compounded monthly. How much will be in the account at the end of 16 years
An engineer deposits $8500 every semiannual(first deposit will be 6 months later) into a savings account that pays interest at a rate of 18% per year compounded monthly. How much will be in the account at the end of 16 years
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
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An engineer deposits $8500 every semiannual(first deposit will be 6 months later) into a savings account that pays interest at a rate of 18% per year compounded monthly. How much will be in the account at the end of 16 years?
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