Tom receives pension payments of $6000.00 at the end of every six months from a retirement...

Tom receives pension payments of $6000.00 at the end of every six months from a retirement fund of $90 000.00. The fund earns 8.00% compounded semi-annually.
a) How many payments will Tom receive?
b) What is the size of the final pension payment?

Expert Solution

ekkarill92 answered 1 year ago

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