How much should a family deposit at the end of every 6 months in order to have $ 4000 at the end of 3 years? The account pays 4.6% interest compounded semiannually. (Round your final answer to two decimal places.)

How much should a family deposit at the end of every 6 months in order to have $ 4000 at the end of 3 years? The account pays 4.6% interest compounded semiannually. (Round your final answer to two decimal places.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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How much should a family deposit at the end of every 6 months in order to have $
4000 at the end of 3 years? The account pays 4.6% interest compounded
semiannually. (Round your final answer to two decimal places.)

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