Deposits of $1000 are made semiannually into an account which earns 8% semiannually. If the deposits will be made for 9 years, then how much will be in the account 8 years after the last deposit?
Deposits of $1000 are made semiannually into an account which earns 8% semiannually. If the deposits will be made for 9 years, then how much will be in the account 8 years after the last deposit?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
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Deposits of $1000 are made semiannually into an account which earns 8% semiannually. If the deposits will be made for 9 years, then how much will be in the account 8 years after the last deposit?
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