You would like to have

$3,500

in

3

years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays

6.5%

compounded semiannually.

a.	Use one of the formulas below to determine how much you should deposit at the end of every six months. A=P1+rnnt1rn P=Arn1+rnnt1
b.	How much of the $3,500 comes from deposits and how much comes from interest?