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Hillier Hillier
wrote...
Posts: 550
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6 years ago
How much does a depositor have to save at the beginning of every 6 months for eleven years to accumulate $17 448.00 if interest is 6.25% compounded semi-annually?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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Replies
wrote...
6 years ago
(due) = 17448
17448 = PMT (1.03125)
17448.00 = PMT(30.9733986)(1.03125)
$546.25 = PMT
Hillier Author
wrote...
6 years ago
Thank you for helping
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