Question
7) Chris wants to accumulate $113,000 in 4 years. He plans on making equal semiannual deposits into an investment account that earns 12% semiannually in
7) Chris wants to accumulate $113,000 in 4 years. He plans on making equal semiannual deposits into an investment account that earns 12% semiannually in order to reach his goal. How much must Chris invest every six months? (Use appropriate factor(s) from the tables provided.)
A) $11,417.02 B) $14,125.00
C) $15,991.77 D) $27,337.12
E) $18,197.00
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Introduction To Cost Accounting
Authors: Don R. Hansen, Maryanne Mowen, Liming Guan, Mowen/Hansen
1st International Edition
0538749636, 978-0538749633
