question archive (FV and PV of a Single Amount Non-Annually) You placed $7,420 in a savings account today that earns an annual interest rate of 10
(FV and PV of a Single Amount Non-Annually) You placed $7,420 in a savings account today that earns an annual interest rate of 10
Subject:BusinessPrice: Bought3
(FV and PV of a Single Amount Non-Annually)
You placed $7,420 in a savings account today that earns an annual interest rate of 10.42 percent, compounded semiannually. How much will you have in this account at the end of 22 years? Assume that all interest received at the end of the period is reinvested the next period. Round the answer to two decimal places.
Round the answer to two decimal places.
