Answer
Total withdrawn= 56,189.4
Work Step by Step
Interest compounded semiannually: Future value of
(1 at 4% for 16 periods 1.87298 X 30,000)
Total withdrawn= 56, 189.4
**We use the future value tables to obtain the value 1.87298.
Intermediate Accounting 14th Edition
by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.
Published by
Wiley
ISBN 10:
0470587237
ISBN 13:
978-0-47058-723-2
Chapter 6 - Accounting and the Time Value of Money - Exercises - Page 343: E6-2c
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