Question: 8) You won SI 50 000.00 in a lottery and you want to set some of that sum of money aside for 6 years.
8) You won SI 50 000.00 in a lottery and you want to set some of that sum of money aside for 6 years. After 6 years you would like to receive $2710.00 at the end of every 6 months for 8 years. if interest is 6% compounded quarterly, how much of your winnings must you set side? - s21 771.98 -524 771.98 -522 771.98 -323 771.00 $23 771.98 00
Step by Step Solution
★★★★★
3.39 Rating (152 Votes )
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Annual interest 6 compounding quarterly quarterly interest 15 32 quarters peri... View full answer
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
