Assume that the accounts described in the have no other deposits or withdrawals except
Chapter 8, Problem 37(choose chapter or problem)
Assume that the accounts described in the exercises have no other deposits or withdrawals except for what is stated. Round all answers to the nearest dollar, rounding up to the nearest dollar in present value problems. Assume 360 days in a year.
At the time of a child’s birth, $12,000 was deposited in an account paying 6% interest compounded semiannually. What will be the value of the account at the child’s twenty-first birthday?
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