Janice opens a money market account that earns 2% per year

Janice opens a money market account that earns 2% per year

Question # 00719412 Posted By: dr.tony Updated on: 03/28/2019 04:28 AM Due on: 03/28/2019
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Janice opens a money market account that earns 2% per year compounded monthly by depositing $2500. She then deposits $4300 at end of the first 6 months (semi-annually) and keeps depositing $400 more than the previous deposit every 6 months for 8 years. What will be the future value (value at the end of 8 years) for the cash flow stream? Show Excel Spreadsheet and Formulas. 

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  1. dr.tony
    Tutorial # 00719868 Posted By: dr.tony Posted on: 03/28/2019 04:29 AM
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