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3) Angelo plans to invest an equal amount of $2,000 every six months beginning this year. The expected semi-annual return is 7%. He plans to invest for 20 years. How much could he expect to have at the end of 20 years? a) $204,888 b) $208,678 c) $395,678 d) $397,456 e) None of the above =40 7% A-2 table FV=$2,000 x 199.635 = 399,270.00

3) Angelo plans to invest an equal amount of $2,000 every six months beginning this year. The expected semi-annual return is 7%. He plans to invest for 20 years. How much could he expect to have at the end of 20 years? a) $204,888 b) $208,678 c) $395,678 d) $397,456 e) None of the above =40 7% A-2 table FV=$2,000 x 199.635 = 399,270.00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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3) Angelo plans to invest an equal amount of $2,000 every six months beginning this year. The expected semi-annual return is 7%. He plans invest for 20 years. How much could he expect to have at the end of 20 years? n=40 a) $204,888 b) $208,678 c) $395,678 d) $397,456 e) None of the above 7% A-2 table FV=$2,000 x 199.635 = 399,270.00
Transcribed Image Text:3) Angelo plans to invest an equal amount of $2,000 every six months beginning this year. The expected semi-annual return is 7%. He plans invest for 20 years. How much could he expect to have at the end of 20 years? n=40 a) $204,888 b) $208,678 c) $395,678 d) $397,456 e) None of the above 7% A-2 table FV=$2,000 x 199.635 = 399,270.00
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