How much should a family deposit at the end of every 6 months in order to have $6000 at the end of 4 years? The account pays 5.8% interest compounded semiannually. (Round your final answer to two decimal places.) $
Added by Sydney H.
Step 1
We are given that the interest rate is 5.8% compounded semiannually, so the interest rate per period is 5.8%/2 = 2.9% or 0.029 as a decimal. Show more…
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