Question: PLEASE ANSWER WITH STEP BY STEP SOLUTION You want to receive $325 at the end of every six months for 2 years. Interest is 4.8%

PLEASE ANSWER WITH STEP BY STEP SOLUTION

You want to receive $325 at the end of every six months for 2 years. Interest is 4.8% compounded semi-annually. (a) How much would you have to deposit at the beginning of the 2-year period? (b) How much of what you receive will be interest? (a) The deposit is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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