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You need to accumulate $14,000 to fund a round-the-world trip in 4 years' time. To do this, you will make 8 equal deposits (half yearly)
You need to accumulate $14,000 to fund a round-the-world trip in 4 years' time. To do this, you will make 8 equal deposits (half yearly) with the first deposit today. If you earn 8.9% per annum compounding twice yearly, what regular deposit will be needed? (round to nearest cent; don't use $ sign or commas) Select one: a. $1495.20 b. $1431.50 c. $3065.88 d. $2815.32
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