# Your bank account pays a nominal interest rate of 1 1 % , compounded semi - annually.

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## Question:

Your bank account pays a nominal interest rate of $11\%,$ compounded semi$-$annually. Your plan is to deposit $$2,400$ in the account at the end of each of the next $10$ years. How much will you have in the account at the end of year $10,$ after making your final deposit? $($Hint: The annuity payments dont match compounding periods.

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