You invested $1,000 at the end of every 6-month period for 10 years at 9% interest compounded semiannually. Use formulas (not tables) to calculate (a) How much your investment is worth after 10 years. Show your work. (b) If you had invested the money at the beginning of each 6-month period rather than at the end , how much would be in your account? Show your work.

You invested $1,000 at the end of every 6-month period for 10 years at 9% interest compounded semiannually. Use formulas (not tables) to calculate (a) How much your investment is worth after 10 years. Show your work. (b) If you had invested the money at the beginning of each 6-month period rather than at the end , how much would be in your account? Show your work.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 10EB: You have been depositing money into an account yearly based on the following investment amounts,...

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