Jean-Rene wants to make a lump-sum deposit today such that at the end of every three months for the next five years he can receive a payment starting at $2,500 and increasing by 1% each time...

Jean-Rene wants to make a lump-sum deposit today such that at the end of every three months for the next five

years he can receive a payment starting at $2,500 and increasing by 1% each time thereafter. At the end of the

term, an additional lump-sum payment of $10,000 is required. If the annuity can earn 8.75% compounded

semi-annually, what lump sum should he deposit today? Using financial Calculator.

Jun 07, 2022

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