Nikia started a fund earning 3% compounded monthly, which would pay out $500 at the end of
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Nikia started a fund earning 3% compounded monthly, which would pay out $500 at the end of every month. How much more money is required to set up the fund if the interest rate was 3% compounded semi-annually instead of 3% compounded monthly?
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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