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.What was size of the investment in the fund if it was earning 5.50% compounded semi-annually?

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter13: Investment Fundamentals

Section: Chapter Questions

Problem 2DTM

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Question

Bradley set up a fund that would pay his family 3500 at the beginning of every month, in perpetuity.What was size of the investment in the fund if it was earning 5.50% compounded semi-annually?

Bradley set up a fund that would pay his family $3,500 at the beginning of every month,
in perpetuity. What was the size of the investment in the fund if it was earning 5.50%
compounded semi-annually?
$0.00
Round to the nearest cent
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