You are planning to make two equal amount deposits, one now and the other 3 years from now in order to accumulate $300,000 ten years in the future. If the interest rate is 14% per year, compounded semiannually, the size of each deposit is: (a) <$46,300 (b) $46,525 (c) $47,835 (d) >$48,200

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
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You are planning to make two equal amount deposits,
one now and the other 3 years from now in order
to accumulate $300,000 ten years in the future. If the
interest rate is 14% per year, compounded semiannually,
the size of each deposit is:
(a) <$46,300 (b) $46,525
(c) $47,835 (d) >$48,200

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