Posted by **cant figure this out :(** on Saturday, April 30, 2011 at 7:36pm.

What is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays 6.6%, compounded semiannually, so that the account will have a future value of $140,000 at the end of 17 years?

- math -
**Mgraph**, Saturday, April 30, 2011 at 8:37pm
Accumulation value of an annuity (due)

Sn=P*((1+i)^n-1)/d

where P-the size of payments, n=17*2=34,

i=0.066/2=0.033, d=i/(i+1)=0.032

140000=P*63.1024733

P=2218.61

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