Diana wants to accumulate $35,000 in a fund with payments of $1,500 made at the end of
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Question:
Diana wants to accumulate $35,000 in a fund with payments of $1,500 made at the end of every six months. The interest rate is 6.97% compounded semi-annually.
a. How many payments (rounded up to the next payment) will it take to accumulate this amount?
b. How long will it take to accumulate this amount?
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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