Solution-Calculate the accumulated amount

Calculate the accumulated amount

Reference no: EM133199044

Problem:

$1,500 was deposited at the end of every six months for 2 years into a fund earning 5.1% compounded semi-annually. After this period, the accumulated money was left in the account for another 4 years at the same interest rate.

Required:

a) Calculate the accumulated amount at the end of the 6-year term.

b) Calculate the total amount of interest earned during the 6-year period.

Reference no: EM133199044

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Calculate the accumulated amount

Reference no: EM133199044

Reference no: EM133199044

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