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Jenny wishes to accumulate $10000 over 5 years for an overseas trip. She will make a deposit every 6-months, and the funds will earn the
Jenny wishes to accumulate $10000 over 5 years for an overseas trip. She will make a deposit every 6-months, and the funds will earn the interest rate of 4% per annum compounded semi-annually. How much should Jenny deposit every 6-months (that is, twice a year)?
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Financial Accounting Information For Decisions
Authors: Robert w Ingram, Thomas L Albright
6th Edition
9780324313413, 324672705, 324313411, 978-0324672701
