Problem #1. You invested $1,000 at the end of every 6-month period for 10 years at 9% interest compounded semiannually. Use formulas (not tables) to calculate (a) How much your investment is worth after 10 years. Show your work. (b) If you had invested the money at the beginning of each 6-month period rather than at the end , how much would be in your account? Show your work.
Problem #1. You invested $1,000 at the end of every 6-month period for 10 years at 9% interest compounded semiannually. Use formulas (not tables) to calculate (a) How much your investment is worth after 10 years. Show your work. (b) If you had invested the money at the beginning of each 6-month period rather than at the end , how much would be in your account? Show your work.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 9PROB
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