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Deposits of $1,320 are made into an account at the beginning of every 6 months for 2 years and 6 months. If interest is 3.07% compounded quarterly. 1) How much will be the accumulated value? Round to the nearest cent. Choose BGN or END ? END BGN P/Y = C/Y = N= I/Y = % PV = S PMT = S FV = S 2) How much of the accumulated value is interest? Round to the nearest cent. Interest = $ (enter a positive value)

Deposits of $1,320 are made into an account at the beginning of every 6 months for 2 years and 6 months. If interest is 3.07% compounded quarterly. 1) How much will be the accumulated value? Round to the nearest cent. Choose BGN or END ? END BGN P/Y = C/Y = N= I/Y = % PV = S PMT = S FV = S 2) How much of the accumulated value is interest? Round to the nearest cent. Interest = $ (enter a positive value)

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 31P
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Deposits of S1,320 are made into an account at the beginning of every 6 months for 2 years and 6 months. If interest is 3.07% compounded quarterly. 1) How much will be the accumulated value? Round to the nearest cent. Choose BGN or END ? END BGN P/Y = C/Y = N= I/Y = % PV = S PMT = S FV = S 2) How much of the accumulated value is interest? Round to the nearest cent. Interest = $ (enter a positive value) %3D
Transcribed Image Text:Deposits of S1,320 are made into an account at the beginning of every 6 months for 2 years and 6 months. If interest is 3.07% compounded quarterly. 1) How much will be the accumulated value? Round to the nearest cent. Choose BGN or END ? END BGN P/Y = C/Y = N= I/Y = % PV = S PMT = S FV = S 2) How much of the accumulated value is interest? Round to the nearest cent. Interest = $ (enter a positive value) %3D
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