Question:

A woman expects to have $10,000 in 4 years to buy a pair of

Last updated: 8/12/2022

A woman expects to have $10,000 in 4 years to buy a pair of

A woman expects to have $10,000 in 4 years to buy a pair of earrings. She plans to create a sinking fund by depositing an amount every 6 months. If the fund earns 16% interest compounded semi-annually, find the semi-annual deposit and construct a sinking fund schedule.