1.Sarah wants to accumulate $32,000 in a fund with payments of
$800 made at the end of every six months. The interest rate is
6.04% compounded semi-annually.
a. How many payments (rounded up to the next payment) will it
take to accumulate this amount?
b. How long will it take to accumulate this amount?
1 Sarah Wants To Accumulate 32 000 In A Fund With Payments Of 800 Made At The End Of Every Six Months The Interest Ra 1 (34.9 KiB) Viewed 54 times
You plan to save money for a down payment of $36,000 to purchase an apartment. You can only afford to save $6,000 at the end of every 6 months into an account that earns interest at 5.50% compounded monthly. How long will it take you to save the planned amount? 0 years o months Express the answers in years and months, rounded to the next payment period
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