Today you opened up a bank account. Your plan is make five $1,000 contributions to this account. The first?

Question

$1,000 contribution will occur today & then every six months you will contribute another $1,000 to the account, (So you final $1,000 contributionwill be made two years from today). The bank accounts pays a 6% nominal annual interest, and interest is compounded monthly. After two years, you plan to leave the money in the account earning interest, but you will not make any further contributions to the acount, How much will you have in the account 8 years from today

Answer 1

The time value of money concepts are perhaps the most difficult in all of undergraduate accounting or finance.

However, go back to your notes and read the book again. You need to learn these concepts. We're not doing you or your future employers any favors by doing your work for you.