Question
A couple wants to save $30,000 in five years for a new car. They make semiannual deposits for the first three years into an account
A couple wants to save $30,000 in five years for a new car. They make semiannual deposits for the first three years into an account that pays 7% interest compounded semiannually. The first payment is made one semiannual period from now. What is the size of the deposits?
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Case Studies In Finance
Authors: Robert Bruner, Kenneth Eades, Michael Schill
6th Edition
0073382450, 978-0073382456
