Suppose you would like to purchase your dream home which you know is going to cost...
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Suppose you would like to purchase your dream home which you know is going to cost 10,000,000 SAR thirty years from now. From now until then, you can invest a portion of your income by making semiannual deposits (meaning you deposit money twice a year, once every 6 months) in an investment that gives you 7% interest compounded monthly. What is the equal amount that you must deposit into this account every 6 months to have enough to buy your dream home at the end of 10 years? Suppose you would like to purchase your dream home which you know is going to cost 10,000,000 SAR thirty years from now. From now until then, you can invest a portion of your income by making semiannual deposits (meaning you deposit money twice a year, once every 6 months) in an investment that gives you 7% interest compounded monthly. What is the equal amount that you must deposit into this account every 6 months to have enough to buy your dream home at the end of 10 years?
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The purchase cost of home after 30 years will be 10000000 SAR Deposit will be made in every 6 ... View the full answer
Related Book For
Fraud Examination
ISBN: 978-1305079144
5th edition
Authors: W. Steve Albrecht, Chad O. Albrecht, Conan C. Albrecht, Mark F. Zimbelman
Posted Date:
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