A butcher shop knows that it must buy a new machine in 2 years. The machine costs
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A butcher shop knows that it must buy a new machine in 2 years. The machine costs $10,000. In order to accumulate enough money for the machine, the shop owner decides to deposit a sum of money at the end of each 6 months in an account paying 8% compounded semiannually.
How much should each payment be?
Related Book For
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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