Question: Johnny would like to accumulate $ 1 2 0 0 0 through semi annual payments of $ 1 7 0 0 . If he earns

Johnny would like to accumulate $12000 through semi annual payments of $1700. If he earns interest at a rate of
j
2
=9%, determine each of the following:
(a) The number of full payments required.
Answer: full payments
(b) The size of the final smaller payment.
Answer: $

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