Question: Homework: Test Practice Unit 2 - Math of Finance Question 11. Instructor created question HW Score: 41.67%, 5 of 12 points Points: 0 of 1
Homework: Test Practice Unit 2 - Math of Finance Question 11. Instructor created question HW Score: 41.67%, 5 of 12 points Points: 0 of 1 Save You would like to have $3,500 m 3 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 45% compounded semannually Determine how much you should deposit at the end of every six months a b How much of the $3,500 comes from deposits and how much comes from interest? am a. In order to have $3.500 3 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 of the $3,500 comes to your deposits and comes from interest (Use the answer from part to find this answer Round to the nearest dolar as needed b. Calculator Clear all
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
