How much should Sara deposit twice a year at 10% compounded semi-annually for 3
1/2 years to have a $15,000 down payment for her own restaurant?

Step-by-step explanation:

Compound Interest

It's the type of financial calculations that includes the interest of previous periods into the new interests earned by some initial investment or principal P.

If we want to compute the final value FV of a series of n payments R at a fixed compound interest rate i, then

Where

The question provides us the following data

i=10% compounded twice a year

n=3 1/2 years

FV=15,000

We need to convert the number of periods and the interest rate to a semester base:

Let's calculate Fm

Knowing that

Solving for R

Sara should deposit $1,842.30 twice a year to have the down payment for her own restaurant

i want to die

what the hell man, i just want the points lol

i dont have an answer

step-by-step explanation: