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a problem is listed below. identify its type. after graduation in 3 years, antwone would like to take a much needed vacation to the caribbean islands. he anticipates that the all inclusive vacation package will cost him $3,300. his bank will pay 6% per year compounded semiannually. how much does he need to deposit into this account each semiannual period, so that he can take his vacation in 3 years? a) sinking fund b) amortization c) present value of an annuity d) future value with compound interest e) present value with compound interest f) none of the above.

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tutorconsortium117

$500 is the semi-annual deposit.

How is compounded annually determined?

In order to compute compound interest, multiply the principle of the original loan by the annual interest rate multiplied by the number of compound periods minus one.

Explanation:

Providing the following details:

He expects to pay $3,300 for the all-inclusive holiday package. His bank will pay 6% annually compounded every two years.

Using the following formula, we can determine the semiannual deposit:

FV= [(1+i)n-1]/i A*

A= a semi-annual payment

Separating A:

A=(FV*i)/[(1 + I n]-1

A= {3,000*0.035) / [(1.035^6) - 1]

A= $458

To learn more about 'present value' refer to

https://brainly.com/question/16063980

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