High School Math

MISSION STATEMENT: To encourage and promote a greater use of the internet and computer technology in the math classroom. For educators, students, parents and homeschoolers.

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.