You would like to have $5,000 in 4 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 3.5% compounded semiannually. а. Use one...


You would like to have $5,000 in 4 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 3.5%<br>compounded semiannually.<br>а.<br>Use one of the formulas below to determine how much you should deposit at the end of every six months.<br>nt<br>1+<br>- 1<br>A.<br>A =<br>P =<br>nt<br>b.<br>How much of the $5,000 comes from deposits and how much comes from interest?<br>a. In order to have $5,000 in 4 years, you should deposit $<br>at the end of every six months.<br>(Do not round until the final answer. Then round up to the nearest dollar.)<br>

Extracted text: You would like to have $5,000 in 4 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 3.5% compounded semiannually. а. Use one of the formulas below to determine how much you should deposit at the end of every six months. nt 1+ - 1 A. A = P = nt b. How much of the $5,000 comes from deposits and how much comes from interest? a. In order to have $5,000 in 4 years, you should deposit $ at the end of every six months. (Do not round until the final answer. Then round up to the nearest dollar.)

Jun 04, 2022
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