Note :

In a General Annuity the interest period does not match the payment period.

That means that each question requires a two-step solution

Step 1 - find the equivalent interest rate to match the payment period. Do not round this interest rate

Step 2 - use the appropriate formula, Sn or An.

If you do not recognize the general annuity and skip Step 1, you will score 0% on Test 4.

Kolby

has made deposits of

$150.00

into his savings account at the end of every

three months

for

14

years. If interest is

11%

per annum compounded

semi-annually

and he leaves the accumulated balance for another

3

years, what would be the balance in his account then?

Question content area bottom

Part 1

The balance in his account would be

$enter your response here.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)