Every 3 months, Carolyn gets an allowance of $80 that she puts into a savings account with a 1.2% p.a. return compounded semi-annually. After 6 years, what is the balance of her savings account? a. $969.68 b. $999.52 c. $889.37 d. $996.63 e. $975.98
Every 3 months, Carolyn gets an allowance of $80 that she puts into a savings account with a 1.2% p.a. return compounded semi-annually. After 6 years, what is the balance of her savings account? a. $969.68 b. $999.52 c. $889.37 d. $996.63 e. $975.98
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.18E
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Every 3 months, Carolyn gets an allowance of $80 that she puts into a savings account with a 1.2% p.a. return compounded semi-annually. After 6 years, what is the balance of her savings account? a. $969.68 b. $999.52 c. $889.37 d. $996.63 e. $975.98
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