SOLUTION: You make semiannual deposits of $487.00 into an ordinary annuity earning 4.91% compounded semiannually How much money is in the account after 10 years? $12384.05 How much int

Algebra ->  Finance -> SOLUTION: You make semiannual deposits of $487.00 into an ordinary annuity earning 4.91% compounded semiannually How much money is in the account after 10 years? $12384.05 How much int      Log On


   

Question 1206518: You make semiannual deposits of $487.00 into an ordinary annuity earning 4.91% compounded semiannually
How much money is in the account after 10 years? $12384.05
How much interest did you earn in your first year?
Answer by ikleyn(52829) About Me  (Show Source):
You can put this solution on YOUR website!
.

a TWIN problem was just solved yesterday under this link

https://www.algebra.com/algebra/homework/word/finance/Money_Word_Problems.faq.question.1206511.html

Consider this solution as your TEMPLATE and solve this current problem
in the same way, using the same formulas and methodology.