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Calculate the amount of interest Betty DeRose will earn

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Question - Betty DeRose is going to deposit $20,000 into a savings account at the beginning of every six months for the next eight years. Assume the savings account will earn 12% interest compounded semi-annually.

Calculate the amount of interest Betty DeRose will earn over the eight year period.

You will need to use the time value of money table factors posted in carmen to answer this question. To access these factors, click modules and then scroll to the time value of money topic. Click on the link labeled present & future value table factors. No credit will be awarded for this question using a means other than these table factors to answer this question.

Reference no: EM132523052

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