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What will kennedy balance be at end of seven years

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Kennedy's Employers offer its workers a two months Paid sabbatical every seven Years. Kennedy, who just started working for the firm plans to spend his sabbatical touring Europe at an estimated cost of $ 25000. To Finance his trip, Kenneby Plans to make six (6) Annual end of year deposit of $2,500 each starting this year into an investment account earning 4% interest semi annualy.

(a) What will Kennedy's Balance be at end of Seven Years?

(b) If He increases his Annual Contribution to $3,150. How large will his account balance be at end of 7 Years?

Reference no: EM132538614

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