George has made a new year resolution and decided on January 1st of 2023 to set up an investment plan. Starting exactly 6 months from now, at the end of every semester he will invest a constant amount of 1000 euros during the next seven years. The investment plan has a SAR of 6% with semi-annual compounding. How much money will George have at the end of the 7th year?

Use PV of constant annuity, and then FV

Take into consideration the starting time of investment and "at the end of every semester"

Answer rating: 100% (QA)

Since George is starting to invest exactly 6 months from January 1st 2023 his first investment will ... View the full answer