What is the size of payments that must be deposited at the beginning of each 6-month period in an account that pays 5.6%?
What is the size of payments that must be deposited at the beginning of each 6-month period in an account that pays 5.6%? compounded semiannually, so that the account will have a future value of...
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Grandparents contribute into an account at the beginning of each month an investment that pays 8%, compounded monthly, they want the balance to be $150,000 at the end of 18 years.
(a) State whether the problem relates to an ordinary annuity or an annuity due. (b) Solve the problem. (Round your answer to the nearest cent.)
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