Parents agree to invest $500 (at 10%, compounded semiannuaty) for their son on the December31erune 20 folowing each semester that he maes the dean's st during his 4 vers in college. he makes the oean's lt in sach of theemesters, how much money wil bs parents have to give him when he gadates ta) State whether the problem relates to an ondinary annuity an annuty due O urdiary annuty annuity due (hi Solve the
Parents agree to invest $500 (at 10%, compounded semiannuaty) for their son on the December31erune 20 folowing each semester that he maes the dean's st during his 4 vers in college. he makes the oean's lt in sach of theemesters, how much money wil bs parents have to give him when he gadates ta) State whether the problem relates to an ondinary annuity an annuty due O urdiary annuty annuity due (hi Solve the
Chapter4: Income Exclusions
Section: Chapter Questions
Problem 36P
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Transcribed Image Text:Parents agree to invest $500 (at 10%, compounded sermiannualy) for their son on the December 31 er June 30 folloning each semester that he makes the dean'N st aurng his 4 vears in collegr.
he maker the dean's list in each of the semesters, how much money will his parents have to give him when he groduates
(0) State whether the problem relates to an endinary annuity or an anneity due
O rdirary annuity
annuity dun
(b) holve the probiem, (Round your answer to the nearest ont.)
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