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3b4 You are going to save money for your son’s education. You have decided to place...

3b4

You are going to save money for your son’s education. You have decided to place $2,724 every half year at the end of the period into a saving account earning 11.02 percent per year, compounded semi-annually for the next 11 years. How much money will be in the account at the end of that time period?

Round the answer to two decimal places.

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Answer #1

Solution:-

To Calculate money will be in the account at the end of that time period-

Future Value =

Future Value =

Future Value =

Future Value =

Future Value =

Future Value = 2,724 * 40.9131741

Future Value = $1,11,447.486

Money will be in the account at the end of that time period is amounting to $1,11,447.486

If you have any query related to question then feel free to ask me in a comment.Thanks.

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