Lee holmes deposited 15700 in a new savings account at 12, Ask an Expert

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Lee Holmes deposited $15,700 in a new savings account at 12% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $40,700 at 12% interest compounded semiannually.

At the end of 6 years, what is the balance in Lee's account? (Do not round intermediate calculations. Round your answer to the nearest cent.)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92806921

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