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How much will be in your account after ten years

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Reference no: EM133010303

Problem - It is now January 1. You plan to make a total of 5 deposits of $150 each, one every 6 months, with the first payment being made today. The bank pays a nominal interest rate of 7% but uses semiannual compounding. You plan to leave the money in the bank for 10 years. How much will be in your account after 10 years?

Reference no: EM133010303

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