You Have Inherited Some Money and You Want to Set

question 9

Essay

You have inherited some money and you want to set some of that money aside for ten years. After ten years, you would like to receive $7600.00 at the end of each 6 months for nine years. If the interest is 6.5% compounded semi-annually, how much of your inheritance must you set aside?

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Definitions:

Assault

An act of causing physical harm to someone or attempting or threatening to do so.

Frustration

A psychological state of being upset or annoyed as a result of being unable to change or achieve something.

Intermittent Explosive Disorder

A psychological condition marked by severe episodes of anger that are beyond control and not justified by the circumstances.

DSM-5 Criteria

The diagnostic guidelines outlined in the Fifth Edition of the Diagnostic and Statistical Manual of Mental Disorders for identifying and classifying mental health conditions.