Asked by frolian
                A  company  wants  to  accumulate tsh  100000 to  purchase  replacement  machinery 8years  from  know.to  accomplish  this  equal semi-annually payments are  made to a fund  that  earns  7%compounded semi-annually.find  the  amount of  each payment
            
            
        Answers
                    Answered by
            Reiny
            
    let the payment be P
P (1.035^16 - 1)/.035 = 100000
solve for P on your calculator
you should get around ($4770 , not the exact answer so you will still have to do the calculation yourself)
    
P (1.035^16 - 1)/.035 = 100000
solve for P on your calculator
you should get around ($4770 , not the exact answer so you will still have to do the calculation yourself)
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