$1,200 is deposited every six months in an account that earns 2% compounded semi-annually, how many full deposits of semi-annual periods will it take to reach $15,000.00? What is the amount of the smaller concluding deposit? It will take semi-annual periods of full deposits. The smaller concluding deposit is $ . (Round to 2 decimal places.

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A: Please refer to the image below.

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A: PV=FV11+rn=$70011+4.54×1004×3+$500011+4.54×1004×5=$612.062293+$3997.59977=$4609.66206=$4609.66

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