FLR%24林N4.3.%23144OL米91ア」f5dpal5 of 11< Prevaccount? (Round your answer to the nearest cent.)deposits an additional $60,000 at 6% interest compounded semiannually. At the end of six years, what is the balance in Moxie'sMoxie Fox deposited $30,000 in a savings account at 6% interest compounded semiannually. At the beginning of year 4, MoxieMoxie's account balance

As period goes on compounding interest increases with more compounding during the period.

Answered: Moxie Fox deposited $30,000 in a…

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

Problem 1PS

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➤To attend school, Sam deposits $1500 at the end of every six months for four and one-half years. What is the accumulated value of the deposits if interest is 6% p.a. compounded quarterly? 6%/4 1.5% = 0.015 every quarter (3 months)
To attend school, Arianna deposits $160 at the end of every month for three and one-half years. What is the accumulated value of the deposits if interest is 9% compounded quarterly? The accumulated value is S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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Moxie Fox deposited $30,000 in a savings account at 6% interest compounded semiannually. At the beginning of year 4, M eposits an additional $60,000 at 6% interest compounded semiannually. At the end of six years, what is the balance in Mo: account? (Round your answer to the nearest cent.)