Joy would like to receive $6000 at the end of every 3 months for 10 years after

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Joy would like to receive $6000 at the end of every 3 months for 10 years after her retirement. If she retires now and interest is 6.5% compounded semi-annually, how much must she deposit into an account?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 04:02 AM

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The correct entry should be Debit: Armstrong, Capital $48,000 Credit: Cash $58,000 Debit: Jackson, Capital $5,000 Debit: Tanner, Capital $5,000

Joy would like to receive $6000 at the end of every 3 months for 10 years after

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PMT 600000 i 325 n 40 c 24 12 p 1032...View the full answer

Contemporary Business Mathematics with Canadian Applications

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