Jerry N.

asked • 11/02/20

Find i​ (the rate per​ period) and n​ (the number of​ periods) for the following annuity. Semiannual deposits of ​$2,500 are made for 12 years into an annuity that pays 7.5​% compounded semiannually.

Find i​ (the rate per​ period) and n​ (the number of​ periods) for the following annuity.

Semiannual deposits of ​$2,500 are made for 12 years into an annuity that pays 7.5​% compounded semiannually.


i= ______________ (Type an integer or a​ decimal.)

Zen F.

Do you have the Annuity Formula referenced from your coursework?
Report

11/02/20

Brenda D.

tutor
That would be useful, so that we could be on the same page. Just generally speaking, 7.5% compounded semiannually says it is compounded twice a year so 7.5/2 = 3.75% every 6 months and 12 x 2 = 24 periods.
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11/02/20

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