High School Math

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Wednesday, March 16, 2005

Money Forever

A man wishes to receive $700 every half year, starting one half year from today, forever. At 6% p.a. compounded half-yearly, what amount must he invest today, to make this possible?

If you need help click ^www.TheMathWebSite^.com
and on the index of topics page click
Money/Perpetuity/Quiz. Then click on any question,
or its steps, to see the full solution.

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