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You have a goal to raise $1000 in four years' time. If your mother gives you $400 at the end of the first year, you
You have a goal to raise $1000 in four years' time. If your mother gives you $400 at the end of the first year, you make six deposits of equal amounts every six months thereafter, and all the money is deposited in a bank, which pays 8% p.a., compounded semi-annually, how large must each of the six payments be for you to reach your target? $74.46 $65.55 $82.74 $77.26
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