Question: Homework: Test Practice Unit 2 - Math of Finance Question 11, Instructor- created question HW Score: 58.33%, 7 of 12 points Points: 0 of 1
Homework: Test Practice Unit 2 - Math of Finance Question 11, Instructor- created question HW Score: 58.33%, 7 of 12 points Points: 0 of 1 III Save You would like to have $3.500 in 5 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 65% compounded semiannually Determine how much you should deposit at the end of every six months. a. b. How much of the 53,600 comes from deposits and how much comes from interest? a. In order to have $3,600 in 5 years, you should deposits at the end of every six months (Do not round until the final answer. Then round up to the nearest dollar b. $of the $3,600 comes from your deposits and comes from interest (Use the answer from part a to find this answer Round to the nearest dollar as needed.) Calculator clear all
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