Seanna OBrien receives pension payments of $3200 at the end of every six months from a retirement

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Seanna O’Brien receives pension payments of $3200 at the end of every six months from a retirement fund of $50 000. The fund earns 7% compounded semi-annually.
(a) How many payments will Seanna receive?
(b) What is the size of the final pension payment?
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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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