What is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays an annual rate of 8%, compounded semiannually, so that the account will have a future value of $110,000 at the end of 11 years? Round your answer to the nearest cent.
A)$17,573.48
B)$7,842.69
C)$916.44
D)$3,088.34
E)$1,597.49

Question

What is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays an annual rate of 8%, compounded semiannually, so that the account will have a future value of $110,000 at the end of 11 years? Round your answer to the nearest cent. ​
A)$17,573.48
B)$7,842.69
C)$916.44
D)$3,088.34
E)$1,597.49

Quizplus · Accepted Answer

The Answer of What is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays an annual rate of 8%, compounded semiannually, so that the account will have a future value of $110,000 at the end of 11 years? Round your answer to the nearest cent. ​
A)$17,573.48
B)$7,842.69
C)$916.44
D)$3,088.34
E)$1,597.49

What Is the Size of the Payments That Must Be