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It is now January 1. You plan to make a total of 5 deposits of...

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Accounting

It is now January 1. You plan to make a total of 5 deposits of $150 each, one every 6 months, with the first payment being made today. The bank pays a nominal interest rate of 4% but uses semiannual compounding. You plan to leave the money in the bank for 10 years. How much will be in your account after 10 years?

$1,394.77

$1,071.60

$1,277.94

$1,521.70

$1,170.46

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