You would like to have 3500 in 3 years for a special

Last updated: 10/19/2023

You would like to have 3500 in 3 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 4 compounded semiannually Answer parts a and b i Click the icon to view some finance formulas a How much should you deposit at the end of every six months In order to have 3500 in 3 years you should deposit s at the end of every six months Do not round until the final answer Then round up to the nearest dollar b How much of the 3500 comes from deposits and how much comes from earnings S of the 3500 comes from your deposits and comes from interest Use the answer from part a to find this answer Round to the nearest dollar as needed More info In the provided formulas P is the deposit made at the end of each compounding period for an annuity that pays an annual interest rate r in decimal form compounded n times per year and A is the value of the annuity after t years A 9 r nt auon by mar 1 P A rnt A