Answered: If you deposited $35000 and the bank is…

If you deposited $35000 and the bank is paying 4% interest compounded every 4 months, how much would be your account at the end of 240 days?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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If you deposited $35000 and the bank is paying 4% interest compounded every 4 months, how much would be your account at the end of 240 days?

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