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How much money was deposited semiannually for the past 15 years if it is now sufficient to generate a perpetuity of $40,000 every six months beginning today? The account earned 8%, compounded semiannually, and will do so going forward. Group of answer choices $36,830 $17,830 $116,830 $57,830

How much money was deposited semiannually for the past 15 years if it is now sufficient to generate a perpetuity of $40,000 every six months beginning today? The account earned 8%, compounded semiannually, and will do so going forward. Group of answer choices $36,830 $17,830 $116,830 $57,830

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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How much money was deposited semiannually for the past 15 years if it is now sufficient to generate a perpetuity of $40,000 every six months beginning today? The account earned 8%, compounded semiannually, and will do so going forward. Group of answer choices $36,830 $17,830 $116,830 $57,830
Transcribed Image Text:How much money was deposited semiannually for the past 15 years if it is now sufficient to generate a perpetuity of $40,000 every six months beginning today? The account earned 8%, compounded semiannually, and will do so going forward. Group of answer choices $36,830 $17,830 $116,830 $57,830
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