An individual wishes to deposit a certain quantity of money

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An individual wishes to deposit a certain quantity of money now so that he will have $500 at the end of 5 years.  With interest at 4% per year, compounded semi-annually, what is the amout of deposit nearest to?

Reference no: EM13571295

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An individual wishes to deposit a certain quantity of money : an individual wishes to deposit a certain quantity of money now so that he will have 500 at the end of 5 years.nbsp
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