To start a new business Beth deposits $1000 at the end of each six-month period in an account that pays 7%, compounded semiannually. How much will she have at the end of 7 years? At the end of 7 years, Beth will have approximately $ (Do not round until the final answer. Then round to the nearest hundredth as needed.)

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
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To start a new business Beth deposits $1000 at the end of each six-month period in an account that pays 7%, compounded semiannually. How much will she have at the end of 7 years?
At the end of 7 years, Beth will have approximately $.
(Do not round until the final answer. Then round to the nearest hundredth as needed.)
Transcribed Image Text:To start a new business Beth deposits $1000 at the end of each six-month period in an account that pays 7%, compounded semiannually. How much will she have at the end of 7 years? At the end of 7 years, Beth will have approximately $. (Do not round until the final answer. Then round to the nearest hundredth as needed.)
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