An engineer deposited her annual bonus of $10,000 into an account that pays interest at 8% per year, compounded semiannually. If she withdrew $1000 in months 2, 11, and 23, what was the total value of the account at the end of 3 years? Assume no interperiod compounding. (Note: See Problem 4.65 for additional analysis of this series.)
What will be an ideal response?
An engineer deposited her annual bonus of $10,000 into an account that pays interest at 8%
per year, compounded semiannually. If she withdrew $1000 in months 2, 11, and 23, what
was the total value of the account at the end of 3 years? Assume no interperiod
compounding. (Note: See Problem 4.65 for additional analysis of this series.)
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