Connor has made deposits of $195 00 into his savings account at the end of every three months for 20 years If interest is 12% per annum compounded monthly and he leaves the accumulated b another 2 years, what would be the balance in his account then? The balance in his account would be (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed)
Connor has made deposits of $195 00 into his savings account at the end of every three months for 20 years If interest is 12% per annum compounded monthly and he leaves the accumulated b another 2 years, what would be the balance in his account then? The balance in his account would be (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed)
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
Section: Chapter Questions
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Transcribed Image Text:Connor has made deposits of $195 00 into his savings account at the end of every three months for 20 years. If interest is 12% per annum compounded monthly and he leaves the accumulated balance for
another 2 years, what would be the balance in his account then?
The balance in his account would be
(Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed)
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