How much must you deposit at the beginning of each year

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Reference no: EM13870725

Assume you deposit $2,000 every 6 months at 10% compounded semi annually. How much will you have at the end of 10 years? If you need $40,000 for your son's education in 10 years, how much must you deposit at the beginning of each year in the bank earning 6% in order to have the college money ready? Please show your work.

Reference no: EM13870725

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