Question

As part of his retirement planning, Mr. Martin purchases an annuity that pays 4% compounded semi-annually. If the semiannual payment is $8,000, how much will Mr. Martin have saved in 10 years, correct to the nearest whole dollar?

Answer 1

So, does this mean that annually, Martin's 800 dollars will increase by 8% @blondiegirl1703

Answer 2

8,000.*

Answer 3

And I meant by 4%.