Q14) Suppose that Ahmed deposits 2000 $ every 6 month in a saving account which pays 12% annual interest compounded half-yearly. How much will Ahmed have in the bank at the end of 8 years. Assuming that Ahmed deposits his money at the beginning of each 6-month period.

Q14) Suppose that Ahmed deposits 2000 $ every 6 month in a saving account which pays 12% annual interest compounded half-yearly. How much will Ahmed have in the bank at the end of 8 years. Assuming that Ahmed deposits his money at the beginning of each 6-month period.

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 12E

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Q14) Suppose that Ahmed deposits 2000 $ every 6 month in a
saving account which pays 12% annual interest compounded
half-yearly. How much will Ahmed have in the bank at the end of
8 years. Assuming that Ahmed deposits his money at the
beginning of each 6-month period.

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