in order to have a fund of 1,000,000 at the end of 12 years, equal deposits every six months must be made. Find the semi annual payment of interest is at 6% compounded annually

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
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in order to have a fund of 1,000,000 at the end of 12 years, equal deposits every six months must be made. Find the semi annual payment of interest is at 6% compounded annually?
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