Homework Answers
Solution:
2-7
Total FV of the amounts invested is $4493.94
Workings
2-8
PV Annuity Factor for 20 periods @ 4% = 13.5903
PV of semiannual payment of $500 for 10 years = $500 * 13.5903 = $6795.16
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will rate and like thanks!
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