What is the accumulated value after 15.50 years of deposits of $500.00 carning interest at 4.00 compounded semi-annually if the deposits are made at the end of each quarter? 42000 O 42500 42590 Onone

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
Question
What is the accumulated value after 15.50 years of deposits of $500.00 carning interest at 4.00%
compounded semi-annually if the deposits are made at the end of each quarter?
O42000
O 42500
42590
O none
Transcribed Image Text:What is the accumulated value after 15.50 years of deposits of $500.00 carning interest at 4.00% compounded semi-annually if the deposits are made at the end of each quarter? O42000 O 42500 42590 O none
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning