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Determine the periodic deposit. Round up to the nearest dolar. How much of the financial...

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Basic Math


Determine the periodic deposit. Round up to the nearest dolar. How much of the financial goal comes from deposits and how much comes from interest? 

 Periodic Deposit: $? at the end of every six months 

 Rate: 6% compounded semiannually 

 Time: 8 years

 Financial Goal: $490,000 

Answer & Explanation Solved by verified expert
3.6 Ratings (418 Votes)
The future value F of an annuity is given by F Pr1rn1 where P is the periodic payment r is the rate per    See Answer
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