Question
1)How many months will it take to accumulate to $18880.88 at 5.87% compounded semiannually, if $1234.00 is deposited in an account at the beginning of
1)How many months will it take to accumulate to $18880.88 at 5.87% compounded semiannually, if $1234.00 is deposited in an account at the beginning of every 6 months?
2)A contract valued at $81500.00 requires payment of $2430.00 at the beginning of every 3 months. If interest is 6.5% compounded quarterly, calculate the term of this contract (round to years and months)
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
