1. Find the size of the deposit to be made now, that will provide beginning-of- month payments of $300 for the first 6 years and $400 for the next 4 years using 3.1% compounded semi-annually? 2. How much interest is made during this annuity?
1. Find the size of the deposit to be made now, that will provide beginning-of- month payments of $300 for the first 6 years and $400 for the next 4 years using 3.1% compounded semi-annually? 2. How much interest is made during this annuity?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 22PROB
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