To purchase an iMac Pro which is listed $6,299.00 online, Lisa is now depositing $300 to her saving account every 6 months after she has saved $5500. If the interest rate is 6% p.a. compounded semi-monthly, how soon can she purchase the iMac Pro?     Step 1. Fill in blanks – the values:   mpmt = __________ ,   j = __________, mi = __________, i = __________   PMT = __________, PV = __________, FV = __________   Step 2. Formula and Calculation

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Types of Money Market Instruments