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Sylvia is considering depositing $600 at the end of each semi-annual period, for 5 years earning...

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Basic Math

Sylvia is considering depositing $600 at the end of eachsemi-annual period, for 5 years earning interest of 8%. She wouldlike to know how large a one-time lump sum deposit she could make,at the same rate, to have the same amount of money after 5years.

Sylvia later decides needs $ 11,000 in 8 years. She has theopportunity to make a one-time investment that will earn 10%compounded quarterly. How much must she invest to reach hergoal?

Answer & Explanation Solved by verified expert
3.6 Ratings (577 Votes)
The formula for determining the future value F of an annuity is F P1rn1r where P is the periodic payment r is the rate of interest per period and n is the no of    See Answer
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