Annuities
Alice and Bob invest $5000 every six months at 5.5% compounded half-yearly.
(a) What will their investment be worth after 3 years.
(b) How much interest have they earned?
Important This is not a 'textbook on a screen' - this is an interactive learning system. Which means you have to 'act' to make it go.
Look through the options below and select the one you think is the best response. You will gain most benefit if you work the problem with pen and paper as you go, i.e. decide what you think is the correct option and write down what you think the result will be before you click. If the next step doesn't display, click another option.
What the first thing you need to do?
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