A person pays $2000 into an investment fund every six months, and it earns interest at a
rate of 6%pa, compounded monthly. How much is the fund worth at the end of ten years?
This question is under Rates and Finance (Sequence and Series)
Thank you!
The answer is $55 586.38 btw!
Please see the attached pic, I'm referring to pt (b)
This question is from 12Cambridge2U and is under the Financial Series/Sequence chapter,
tho the question (b) is more "thinking outside the box"
I'm slumped, there was a post from 2006 about the same question but no answer was posted...