Question
A) If $8000 is deposited at the end of each half year in an account that earns 6.8% compounded semiannually, after how many half years
A) If $8000 is deposited at the end of each half year in an account that earns 6.8% compounded semiannually, after how many half years will the account contain $100,000? (Round your answer UP to the nearest half year.) half years=
B)
A young executive deposits $200 at the end of each month for 4 years into an account that earns 7.2% compounded monthly. How much is in the account after the 4 years? (Round your answer to the nearest cent).
$
The executive then changes the deposits in order to have a total of $400,000 after 25 total years. What should be the revised monthly payment in order to meet the $400,000 goal? (Round your answer to the nearest cent).
$
How much interest is earned during the 25 years?
$
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