Sandra is saving 500,000 per year in a savings account that is paying an annual compound interest
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Question:
Sandra is saving 500,000 per year in a savings account that is paying an annual compound interest of 5% she intends to continue this for three years after which she will move to jmmb’s long-term fund which pays interest at 10% per annum compounded semi-annually.
how much should Sandra be able to transfer to jmmb after three years?
how much money will Sandra have at the end of eight years from today?
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1337788281
3rd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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