Question: 21 The nominal interest rate is 12% compounded semiannually. What amount will need to be deposited every six months to be able to have enough

The nominal interest rate is 12%

compounded semiannually. What amount will need to be deposited every six months to be able to have enough money to pay three annuity payments of $5,000

for three years beginning at the end of year seven? The deposits begin now and continue every six months until six deposits have been made.

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