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Business, 02.11.2020 16:50 garcialopez162017
It is now January 1. You plan to invest a total of 5 consecutive, equal deposits, one every 6 months, with the first payment being made today. The account pays an interest rate of 6% (APR) but uses semiannual compounding. You plan to leave the money in the bank for 10 years. Your goal is to withdraw $25,000 in 10 years. To get the money for this withdrawal, you will make the aforementioned five equal deposits, beginning today and for the following 4 semiyears (6 month periods). How large must each of the five payments be
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It is now January 1. You plan to invest a total of 5 consecutive, equal deposits, one every 6 months...
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