You are going to save money for your son’s education. You have decided to place $1,192...
You are going to save money for your son’s education. You have decided to place $1,192 every half year at the end of the period into a saving account earning 9.21 percent per year, compounded semi-annually for the next 9 years. How much money will be in the account at the end of that time period? Round the answer to two decimal places.
Homework Answers
Calculating Future Value,
Using TVM Calculation,
FV = [PV = 0, PMT = 1,192, N = 18, I = 0.0921/2]
FV = $32,324.16
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