Please show the solution 1. What is the present worth of 4100 deposited at the end of every three months for 5years if the interest rate is 9% compounded semiannually? 2. You wishes to set up a special fund by making uniform semiannual end-of-period deposits for 20 years. The fund is to provide 300,000 at the end of each of the last five years of the 20-year period. If interest is 9% compounded semiannually, what is the required semiannual deposit to be made?
Please show the solution 1. What is the present worth of 4100 deposited at the end of every three months for 5years if the interest rate is 9% compounded semiannually? 2. You wishes to set up a special fund by making uniform semiannual end-of-period deposits for 20 years. The fund is to provide 300,000 at the end of each of the last five years of the 20-year period. If interest is 9% compounded semiannually, what is the required semiannual deposit to be made?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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1. What is the present worth of 4100 deposited at the end of every three months for 5years if the interest rate is 9% compounded semiannually?
2. You wishes to set up a special fund by making uniform semiannual end-of-period deposits for 20 years. The fund is to provide 300,000 at the end of each of the last five years of the 20-year period. If interest is 9% compounded semiannually, what is the required semiannual deposit to be made?
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