You make periodic deposits of $100 at the end of every six months to an account that pays 4.5% interest compounded semiannually. a. Find the value of your account after 25 years. (Round to the nearest dollar).b. Find the interest.

You make periodic deposits of $100 at the end of every six months to an account that pays 4.5% interest compounded semiannually. a. Find the value of your account after 25 years. (Round to the nearest dollar).b. Find the interest.

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 2E: Future Value Hugh Colson deposited 20,000 in a special savings account that provides for interest at...

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Question

You make periodic deposits of $100 at the end of every six months to an account that pays 4.5%
interest compounded semiannually.
a. Find the value of your account after 25 years. (Round to the nearest dollar).
b. Find the interest.

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