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ACCt - Joan Hampton currently has $5,750 in a money market account

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Question;Joan Hampton currently has $5,750 in a money market account paying 4.37 percent compounded semi-annually. She plans to use this amount and her savings over the next 5 years to make a down payment on a townhouse. She estimates that he will need $15,000 in 5 years. How much should sheinvest in the money market account semi-annually over the next 5 years to achieve this target?a. $ 886.28b. $ 712.01c. $ 650.97d. $ 610.79

 

Paper#43738 | Written in 18-Jul-2015

Price : $21
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