Seanna O'Brien receives pension payments of $3,200 at the end of every six months from a retirement fund of $53,000. The fund earns 7% compounded semi-annually. (a) How many payments will Seanna receive? (b) What is the size of the final pension payment? (a) The number of payments is (Round up to the nearest whole number.) (b) The size of the final payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Seanna O'Brien receives pension payments of $3,200 at the end of every six months from a retirement fund of $53,000. The fund earns 7% compounded semi-annually. (a) How many payments will Seanna receive? (b) What is the size of the final pension payment? (a) The number of payments is (Round up to the nearest whole number.) (b) The size of the final payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 52P

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