On September 1, 2010, you decided to put $ 12000 in a money market fund. On March 1, 2015, you deposit another $ 15000 and on Jan 1, 2018, you added another $ 13000. This fund pays interest at the annual rate of 7.2%, compounded monthly. Find the future value of the fund on January 1, 2019, one year after the third deposit.

On September 1, 2010, you decided to put $ 12000 in a money market fund. On March 1, 2015, you deposit another $ 15000 and on Jan 1, 2018, you added another $ 13000. This fund pays interest at the annual rate of 7.2%, compounded monthly. Find the future value of the fund on January 1, 2019, one year after the third deposit.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 22E

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