ABC Company wants to have $79,254 in five years. The company intend s to accumul

Question

ABC Company wants to have $79,254 in five years. The company intend s to accumulate that amount by making equal semi-annual cash deposits at the beginning of every six months for five years into a bank account th at pays 10% interest compounded semi-annually. Calculate the amount of each semi-annual deposit. Do not use decima ls in your answer You will need to use the time value of money table factors posted i n canvas to answer this question. To access these factors, click modules and scroll to week 12. Click on the link Labeled present& future value factors. No credit will be awarded for this question using a means than these table factors to answer this question then table other

Explanation / Answer

Semi Annual Depoist = $79,254 / 12.578 (CVFA) Semi Annual Depoist = $6,301.002 or say $6,301 (Approx.)

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