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Rickos Rickos
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Posts: 1281
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5 years ago
You have been accepted to study gourmet cooking at Le Cordon Bleu Culinary Institute in Paris, France. You will need $15,000 every six months (beginning six months from now) for the next three years to cover tuition and living expenses. Mom and Dad have agreed to pay for your education. They want to make one deposit now in a bank account earning 6% interest, compounded semiannually, so that you can withdraw $15,000 every six months for the next three years. How much must they deposit now?
A) $97,026
B) $73,760
C) $90,000
D) $81,258
Textbook 

Financial Management: Principles and Applications


Edition: 13th
Authors:
Read 223 times
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vanrheevanrhee
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5 years ago
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