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Sam deposits $200 at the end of every 6 months in an account that pays 6%, compounded semiannually. How much will he have at the
Sam deposits $200 at the end of every 6 months in an account that pays 6%, compounded semiannually. How much will he have at the end of 2 years?
$ = (Round to the nearest cent.)
A sinking fund is established by a working couple so that they will have $50,000 to pay for part of their daughter's education when she enters college. If they make deposits at the end of each 3-month period for 16 years, and if interest is paid at 13%, compounded quarterly, what size deposits must they make?
$ = (Round to the Nearest cent.)
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