If you deposit $20,000 today in an account at a quoted rate of 16% a year,...
If you deposit $20,000 today in an account at a quoted rate of 16% a year, compounded semiannually, how much will you have in the account at the end of five years if you make no withdrawals?
Homework Answers
Conclusion:
Based on the information provided in the question, the total amount we get after 5 years if we do compounding semi- annually is $43,178.50
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If you deposit $20,000 today in an account at a quoted rate of
16% a year,...
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