You make semi-annual deposits for [n] years (beginning 6 mon…
You make semi-annual deposits for years (beginning 6 months from now so there are two deposits in the first year) into an account with an interest rate of % compounded monthly. {Hint: since the deposits are semi-annual we need to solve for a semi-annual effective interest rate.} What is the effect semi-annual rate you would use in the formula to solve for uniform semi-annual payments? NOTICE: The numbers from the previous question may be different. Submit the decimal form of the rate. So if your answer is 7% you should enter 0.07. Submit the answer with 3 significant figures. EX: 0.070 Margin of error +/- 0.0005