Question
A college education fund is to be accumulated by twenty level semi-annual deposits, the first due on Juanary 1, 1996. The fund is to provide
A college education fund is to be accumulated by twenty level semi-annual deposits, the first due on Juanary 1, 1996. The fund is to provide 16 quarterly withdrawals of $ 1100 each, the first due on October 1, 2005. Interest is compounded semiannually at an annual rate of 12 %. What is the amount of each semi-annual deposit?
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Fixed Income Securities Tools For Todays Markets
Authors: Bruce Tuckman, Angel Serrat
3rd Edition
0470891696, 978-0470891698
