It is now january 1 you plan to make a total of 5 deposits

Reference no: EM13617036

It is now January 1. You plan to make a total of 5 deposits of $600 each, one every 6 months, with the first payment being made today. The bank pays a nominal interest rate of 10% but uses semiannual compounding. You plan to leave the money in the bank for 15 years. How much will be in your account after 15 years? Round your answer to the nearest cent.

Reference no: EM13617036

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