5.) How much must be deposited at the beginning of each year in an account that pays 9%, compounded annually, so that the account will contain $32,000 at the end of 8 years? (Round your answer to the nearest cent.) 8.) Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually. How much will he have at the end of 9 years?
5.) How much must be deposited at the beginning of each year in an account that pays 9%, compounded annually, so that the account will contain $32,000 at the end of 8 years? (Round your answer to the nearest cent.) 8.) Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually. How much will he have at the end of 9 years?
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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5.) How much must be deposited at the beginning of each year in an account that pays 9%, compounded annually, so that the account will contain $32,000 at the end of 8 years? (Round your answer to the nearest cent.)
8.) Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually. How much will he have at the end of 9 years?
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