An initial deposit of $12000 is made into an account now, and a second deposit of...
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An initial deposit of $12000 is made into an account now, and a second deposit of $21000 is made into the same account after 15 years. During the first 10 years, the account earns interest quoted at a nominal quarterly discount rate of d%. After 10 years have passed, any money in the account earns a nominal semi-annual interest rate of 5.5%. At the end of 30 years, the total value of the account will be $149270. What is the value of d (to the nearest 0.1%)? d as a percentage, correct to 1 decimal the An initial deposit of $12000 is made into an account now, and a second deposit of $21000 is made into the same account after 15 years. During the first 10 years, the account earns interest quoted at a nominal quarterly discount rate of d%. After 10 years have passed, any money in the account earns a nominal semi-annual interest rate of 5.5%. At the end of 30 years, the total value of the account will be $149270. What is the value of d (to the nearest 0.1%)? d as a percentage, correct to 1 decimal the
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To find the value of d we can use the concept of present value and future value of money Well calcul... View the full answer
Related Book For
Fundamentals Of Financial Management
ISBN: 9780273713630
13th Revised Edition
Authors: James Van Horne, John Wachowicz
Posted Date:
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