The present worth of a deposit of $1000 now and $1000 every 6 months for 10 years
Question:
The present worth of a deposit of $1000 now and $1000 every 6 months for 10 years at an interest rate of 10% per year, compounded semiannually is represented by which of the following equations:
(a) P = 1000(P∕A,5%,21)(F∕P,5%,1)
(b) P = 1000 (P∕A,5%,20)
(c) P = 1000 (P∕A,5%,21)
(d) P = 1000 + 1000(P∕A,10.25%,10)
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