You placed $2,240 in a savings account today that earns an annual interest rate of 8.89 percent, compounded semiannually. How much will you have in this account at the end of 27 years? Assume that all interest received at the end of the period is reinvested the next period.
You placed $2,240 in a savings
account today that earns an annual interest rate of 8.89 percent, compounded semiannually. How much will you have in this account at the end of 27 years? Assume that all interest received at the end of the period is reinvested the next period.
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