Seanna OBrien receives pension payments of $3200 at the end of every six months from a retirement

Question:

Seanna O’Brien receives pension payments of $3200 at the end of every six months from a retirement fund of $50 000. The fund earns 7% compounded semi-annually.
(a) How many payments will Seanna receive?
(b) What is the size of the final pension payment?

Fantastic news! We've Found the answer you've been seeking!