A bank account pays 5.2 % annual interest compounded semiannually. How much money should be deposited in it now so that the account contains 20500 Rials at the end of 3 years? (Give your answer to the nearest Rial). Select one: O 3704 (Rials) O 17116 (Rials) O 24563 (Rials) O 17129 (Rials)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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A bank account pays 5.2 % annual interest compounded semiannually. How much money should be deposited in it now so that the
account contains 20500 Rials at the end of 3
years? (Give your answer to the nearest Rial).
2
Select one:
O 3704 (Rials)
O 17116 (Rials)
O 24563 (Rials)
O 17129 (Rials)
Transcribed Image Text:A bank account pays 5.2 % annual interest compounded semiannually. How much money should be deposited in it now so that the account contains 20500 Rials at the end of 3 years? (Give your answer to the nearest Rial). 2 Select one: O 3704 (Rials) O 17116 (Rials) O 24563 (Rials) O 17129 (Rials)
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