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A fund of $20000 is to be accumulated by n semi-annual payments of $1350 where the nth payment is a larger payment which brings
A fund of $20000 is to be accumulated by n semi-annual payments of $1350 where the nth payment is a larger payment which brings the fund to $20000. If interest is at j2 = 10%, determine n and the final irregular payment. (a) n = (b) The final irregular payment is: Answer: $
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International Money and Finance
Authors: Michael Melvin, Stefan C. Norrbin
8th edition
978-8131234136, 123852471, 978-0123852472
