You deposit $ 150 every 6 months into an annuity with an annual interest rate...

70.2K

Verified Solution

Question

Finance

You deposit $ 150 every 6 months into an annuity with an annual interest rate of 13.5% compounded semi-annually. What is the balance after 20 years? PLEASE SHOW STEPS. NO EXCEL

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students