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31-05-2024
Business

Answered

Jackson plans to make 10 annual deposits of $1,000 starting 5 years from today. At a rate of 4%, compounded semi-annually, how much will he have 20 years from today? Round your final answer to the nearest dollar.

a) $12,514
b) $15,255
c) $15,871
d) $16,021

Answer :

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