14) The Steel Workers Union of Hamilton pull together $128,000 today and set up a fund earning 4.68 % compounded semi-annually, that will pay a
14) The Steel Workers Union of Hamilton pull together $128,000 today and set up a fund earning 4.68 % compounded semi-annually, that will pay a different members child a monthly stipend (payment that helps with schooling) indefinitely or forever. If the payments are at the end of the month and continue forever, how large will those payments be? (2 marks)
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Authors: Mike E. Miles, Laurence M. Netherton, Adrienne Schmitz
5th Edition
0874203430, 978-0874203431
