Question 8 Your friend is considering investing $6,000 at the end of every quarter in a...
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Question 8 Your friend is considering investing $6,000 at the end of every quarter in a bank account paying 6% p.a. The first contribution will be made at the end of the first quarter. If interest is compounded on a monthly basis, the total amount she will have accumulated at the end of eight years will be closest to: $244,130. $244,433. $207,652. $237,539. 1 pts ◄ Previous Next Question 8 Your friend is considering investing $6,000 at the end of every quarter in a bank account paying 6% p.a. The first contribution will be made at the end of the first quarter. If interest is compounded on a monthly basis, the total amount she will have accumulated at the end of eight years will be closest to: $244,130. $244,433. $207,652. $237,539. 1 pts ◄ Previous Next
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1 The question can be solved by calculating interest table for 8 years 96 months as follows Opening balance is the closing balance of previous month C... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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