Ten deposits are made every 6 months starting today. The first deposit is $300 and each subsequents deposit increases by $5. The nominal annual interest rate is 4% compounded semiannually.

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Ten deposits are made every 6 months starting today. The rst deposit is $300 and each subsequent deposit increases by $5. The nominal annual interest rate is 4% compounded semiannually. Which of the following is a correct equation of the AV of these payments at the time of the last payment? Possible Answers AV = 300(102)9 + 305(102)8 + 310(102)7 + 315(102)6 + . . . + 345 a AV = 300(1.02)10 + 305(102)9 + 310(102)8 + 315(102)7 + . . . + 350 AV = 300(1.02)9 + 305(102)8 + 310(102)7 + 315(1.02)6 + . . . + 350 a AV = 300(102)10 + 305(102)9 + 310(102)8 + 315(1.02)7 + . . . + 345 AV = 300(10198)9 + 305(10198)8 + 310(10198)7 + 315(10198)6 + . . . + 345