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Upon retirement, a worker finds that he has R15 964 to his credit in the company retirement fund. He decides to leave the money
Upon retirement, a worker finds that he has R15 964 to his credit in the company retirement fund. He decides to leave the money in the fund which credits interest at 3% compounded semi-annually, and have equal payments made to him or his estate at the end of each 6 months for the 20 years. Find the semi-annual payment
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To calculate the semiannual payment we can use the formula for the present value of an annuity The f...
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Fundamentals Of Corporate Finance
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
5th Edition
0135811600, 978-0135811603
