Seamus has paid $16,000 for a retirement annuity from which he will receive $1,524 at...
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Seamus has paid $ for a retirement annuity from which he will receive $ at the end of every six months. The payments are deferred for years and interest is compounded semiannually. a How many payments will Seamus receive? b What is the size of the final payment? c How much will Seamus receive in total? d How much of what he receives will be interest?
Seamus has paid $ for a retirement annuity from which he will receive $ at the end of every six months. The payments are deferred for years and interest is compounded semiannually.
a How many payments will Seamus receive?
b What is the size of the final payment?
c How much will Seamus receive in total?
d How much of what he receives will be interest?
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