On November 17, 2020 a sum of $42,200 was deposited into an account. What would be the future value of this sum of money on March 18, 2024, if the interest rate is 3.15% compounded semiannually. Round the value for FV' to two decimal places. P/Y = C/Y = DBD = days I/Y = % PV = $ PMT = $ EV = $

On November 17, 2020 a sum of $42,200 was deposited into an account. What would be the future value of this sum of money on March 18, 2024, if the interest rate is 3.15% compounded semiannually. Round the value for FV' to two decimal places. P/Y = C/Y = DBD = days I/Y = % PV = $ PMT = $ EV = $

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 5MC: On May 1, 2019, a company purchased a new machine that it does not have to pay for until May 1,...

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Question

On November 17, 2020 a sum of $42,200 was
deposited into an account. What would be the
future value of this sum of money on March 18,
2024, if the interest rate is 3.15% compounded
semiannually. Round the value for FV to two
decimal places.
P/Y =
C/Y =
DBD = days
I/Y = %
PV = $
PMT = $
FV = $

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