A sinking fund is established to discharge a debt of $20,000 in 15 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of 5%, compounded semiannually, what is the amount of each deposit? (Round your answer to the nearest cent.)

the amount of each deposit is $45,555

Step-by-step explanation:

The computation of the each deposit is shown below:

Given that

Future value be $20,000

Time period = 15 × 2 = 30

And, the rate = 5% ÷ 2 = 2.5%

Now the formula is as follows

= (Future value × rate of interest) ÷ (1 + rate of interest)^time period - 1

= ($20,000 × 2.5) ÷ (1 + 0.025)^30 - 1

= $50,000 ÷ 1.0975675791

= $45,555

Hence, the amount of each deposit is $45,555

lol 2

step-by-step explanation:

i can not answer the question due to the fact that you spelled "carton" as "cartoon", a cartoon is something you watch on tv, a carton is a box that holds things. and also you've been waiting for this question for a while so why don't you get off your lazy a** and try to figure it out for yourself for once!

step-by-step explanation:

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look above, and leave your comments down below, and don't for get a five stars and a and brainliest xd

sorry for the stars in the middle of words its because it wouldn't let me submit. xd