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Suppose $726

question 99

Essay

Suppose $726.56 is deposited at the end of every six months into an account earning 6.45% compounded semi-annually. If the balance in the account four years after the last deposit is to be $31 300.00, how many deposits are needed?


Definitions:

Lifestyle Changes

Modifications made to one's way of living, aiming to improve health, happiness, and well-being.

Overwhelming Feeling

An intense emotional state that exceeds the individual's capacity to manage or process effectively.

Permanent

Lasting or intended to last or remain unchanged indefinitely.

Temporary

Something not lasting or permanent, intended to last only for a limited period of time.

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