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gewusel gewusel
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6 years ago
Karen receives pension payments of $4570.00 at the end of every six months from a retirement fund of $82 000.00. The fund earns 8.06% compounded semi-annually.
a) How many payments will Karen receive?
b) What is the size of the final pension payment?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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wrote...
6 years ago
a)    n =   =   =   = 32.5019768
b)    PVn = 4570.00   = 4570.00(0.48727778) = $2226.86
   Final payment = 2226.86(1.0403) = $2316.60
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