Help!!!!! Assume you deposit $2,000 every six months at 10 percent compounded semi-annually. How much will youhave at the end of 10 years?Note: "Every 6 months" is 2 times per year (semi-annually)PaymentInterestNsemi-annuallycompounded semi-annuallywe need to get the periodic rate = APR/msemi-annual ratesemi-annual periodsPMTRateNFV =?semi-annualsemi-annualsemi-annual

Assume you deposit $2,000 every six months at 10 percent compounded semi-annually. How much will you have at the end of 10 years? Note: "Every 6 months" is 2 times per year (semi-annually) Payment Interest semi-annually compounded semi-annually PMT semi-annual

Assume you deposit $2,000 every six months at 10 percent compounded semi-annually. How much will you have at the end of 10 years? Note: "Every 6 months" is 2 times per year (semi-annually) Payment Interest semi-annually compounded semi-annually PMT semi-annual

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 24P

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Question

Help!!!!!

Assume you deposit $2,000 every six months at 10 percent compounded semi-annually. How much will you
have at the end of 10 years?
Note: "Every 6 months" is 2 times per year (semi-annually)
Payment
Interest
N
semi-annually
compounded semi-annually
we need to get the periodic rate = APR/m
semi-annual rate
semi-annual periods
PMT
Rate
N
FV =?
semi-annual
semi-annual
semi-annual

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