A saving system yields $5,000 at the end of the first six months, and a further $1,000

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A saving system yields $5,000 at the end of the first six months, and a further $1,000 increase every six months for a total of 5 years. Find the equivalent amount A, at the end of each six month period, if the nominal interest rate is 20% compounded semi-annually?
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Engineering Economy

ISBN: 978-0132554909

15th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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