What Is the Accumulated Value After 15 Years of Monthly

question 177

Essay

What is the accumulated value after 15 years of monthly deposits of $500.00 earning interest at 8% compounded semi-annually if the deposits are made
a) at the end of each month?
b) at the beginning of each month?

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Definitions:

Conditioned Response

A learned response to a previously neutral stimulus after repeated pairing with an unconditioned stimulus.

Unconditioned Response

The response normally produced by the conditioned response (e.g., salivation being produced by food).

External Locus

A belief system where individuals perceive their outcomes and experiences as being controlled by external forces or fate rather than their own actions.

Internal Locus

The belief that one's actions and outcomes are a result of personal decisions and efforts rather than external factors.