If you make 30 semiannual deposit of $2000 into a fund that earns 10% compounded quarterly...

If you make 30 semiannual deposit of $2000 into a fund that earns 10% compounded quarterly , how much money will be in the fund two years after the last deposit?

Expert Solution

Total Money = 8,815

Period	Deposit	Total Deposit	Interest
Q1	$ 2,000	$ 2,000	$ 50
Q2		$ 2,000	$ 51
Q3	$ 2,000	$ 4,000	$ 101
Q4		$ 4,000	$ 103
Q5	$ 2,000	$ 6,000	$ 153
Q6		$ 6,000	$ 154
Q7	$ 2,000	$ 8,000	$ 204
Total	$ 8,000		$ 815

ekkarill92 answered 1 year ago

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