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Question
Assume that you can invest to earn a stated annual rate of return of 12 percent, but where interest is compounded semiannually. If you make 20 consecutive semiannual deposits of $500 each, with the first deposit being made today, what will your balance be at the end of Year 20?
a. $52,821.19
b. $57,900.83
c. $58,988.19
d. $62,527.47
e. $64,150
Answer
This answer is hidden. It contains 440 characters.
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