Question
Seanna O'Brien receives pension payments of $3,100 at the end of every six months from a retirement fund of $47000.The fund earns 8% compounded semi-annually.
Seanna O'Brien receives pension payments of $3,100 at the end of every six months from a retirement fund of $47000.The fund earns 8% compounded semi-annually.
(a) How many payments will Seanna receive?
(b) What is the size of the final pension payment?
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
