Laura saves $22 at the end of each week and deposits the money in an account paying 8% compounded semi-annually. How much will Laura accumulate in 4 years? How much of the accumulated amount is interest? Laura will accumulate $ in 4 years. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Laura saves $22 at the end of each week and deposits the money in an account paying 8% compounded
semi-annually. How much will Laura accumulate in 4 years? How much of the accumulated amount is interest?
Laura will accumulate $
in 4 years.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places
as needed.)
Transcribed Image Text:Laura saves $22 at the end of each week and deposits the money in an account paying 8% compounded semi-annually. How much will Laura accumulate in 4 years? How much of the accumulated amount is interest? Laura will accumulate $ in 4 years. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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