1) You are wishing to accumulate $20,000 for an expedition in 3 years time. To do this,...
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1) You are wishing to accumulate $20,000 for an expedition in 3 years’ time. To do this, you will make 6 equal deposits (half yearly) with the first deposit today. If you earn 4.4% per annum compounding twice yearly, what deposit will be needed?
2) $5,000 is invested at 7% p.a compounding semi-annually for the first 2 years and at 14% p.a compounding quarterly for the following 3 years. What is the future value at the end of 5 years?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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