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Posted on Aug 20, 2024

you would like to have $4000 in 4 years for a special vacation following graduation by making deposits at the end of every 6 months

you would like to have $4000 in 4 years for a special vacation following graduation by making deposits at the end of every 6 months in an annuity that pays 7% compounded semiannually

A) how much should you deposit at the end of every six months?

B) how much of the $4000 comes from deposits and how much comes from interest?

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