Semiannual deposits, beginning with ($500) and increasing by ($100) with each subsequent deposit, are made into a
Question:
Semiannual deposits, beginning with \($500\) and increasing by \($100\) with each subsequent deposit, are made into a fund paying a nominal 10 percent per year compounded continuously.
a. What will the fund amount to after 7 years?
b. What is the present worth equivalent of the total set of deposits?
c. What is the equal semiannual equivalent amount of the deposits?
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To solve the problem well use the following information Initial deposit 500 Increase in deposit with each subsequent deposit 100 Interest rate 10 per year compounded continuously Time period 7 years a ...View the full answer
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Related Book For 
Principles Of Engineering Economic Analysis
ISBN: 9781118163832
6th Edition
Authors: John A. White, Kenneth E. Case, David B. Pratt
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