How much should be deposited if compounded semiannually

Reference no: EM13236033

An individual wishes to deposit an amount of money now and $100 every six months so that at the end of five years $1,500 will have been accumulated. With interest at 4% per year, compounded semiannually, how much should be deposited now?

Reference no: EM13236033

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How much should be deposited if compounded semiannually : An individual wishes to deposit an amount of money now and $100 every six months so that at the end of five years $1,500 will have been accumulated. With interest at 4% per year, compounded semiannually, how much should be deposited now

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