Question
Please show your work. If you used a calculator with PMT or PV buttons, then just put that next to the amount you put in.
Please show your work. If you used a calculator with PMT or PV buttons, then just put that next to the amount you put in. I am also working on these but am struggling. Please show your work so i can understand how to do it on my own.
Semiannual deposits of $2000 are made into an ordinary annuity for 10 years. If no more deposits are made, but the amount in the annuity is allowed to accumulate at the same interest rate, how much will the fund contain in 4 more years?
Use 8% compounded semiannually as your interest rate. Draw a time diagram to understand this best.
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