A bank pays 6% interest compounded semiannually. Use appropriate formula to find out how much should be deposited in $ now to yield an annuity payment of $900 at the beginning of each 6 months for 12 years
A bank pays 6% interest compounded semiannually. Use appropriate formula to find out how much should be deposited in $ now to yield an annuity payment of $900 at the beginning of each 6 months for 12 years
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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A bank pays 6% interest compounded semiannually. Use appropriate formula to find out how much should be deposited in $ now to yield an annuity payment of $900 at the beginning of each 6 months for 12 years
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