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Help with word problem, Mathematics
You would like to have $4000 in four years for a special vacation following graduation by making deposits at the end of every 6 months in an annuity that pays 7% compounded semiannually.
A. How much should you deposit at the end of every six months?
B. How much of the $4000 comes from deposits and how much comes from interest?
Posted Date: 11/3/2012 1:30:10 AM  Location : United States
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