Commencing January 1 2022 Narelle plans to deposit $500 at the beginning of each month into an investment fund. The first deposit will be made on January 1 2022. Narelle predicts that the rate of return on this fund will be j12=2.62% from 1 January 2022 to 30 June 2022 and j12=5.44% from 1 July 2022 to 31 December 2022. If we assume these deposits are made at regular intervals, what will the balance of this account be on 31 December 2022?

Commencing January 1 2022 Narelle plans to deposit $500 at the beginning of each month into an investment fund. The first deposit will be made on January 1 2022. Narelle predicts that the rate of return on this fund will be j12=2.62% from 1 January 2022 to 30 June 2022 and j12=5.44% from 1 July 2022 to 31 December 2022. If we assume these deposits are made at regular intervals, what will the balance of this account be on 31 December 2022?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 10RE: If 90,000 is invested in a fund on December 31, 2019, and 5 equal annual withdrawals of 23,138.32...

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