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Can someone show how to solve this, since I am not able to find an answer. The answer in the blank is wrong. The nominal
Can someone show how to solve this, since I am not able to find an answer. The answer in the blank is wrong.
The nominal interest rate is 8% compounded semiannually. What amount will need to be deposited every six months to be able to have enough money to pay three annuity payments of $10,000 for three years beginning at the end of year seven? The deposits begin now and continue every six months until six deposits have been made. The amount to be deposited every six months is $ (Round to the nearest dollar.)Step by Step Solution
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