A retirement benefit of $12,000 is to be paid every 6 months for 25 years at interest rate of 7% compounded semi-annually. Find (a) the present value to fund the end-of-period retirement benefit. (b) the end-of-period semi-annual payment needed to accumulate the value in part (a) assuming regular investments for 30 years in an account yielding 8% compounded semi-annually
A single reservoir supplies the petrol to the whole city, while the reservoir is fed by a single pipeline filling the reservoir with the stream of uniform volume. When the reservoir is full and if 40,000 liters of petrol is used daily, the suply fails in 90 days.If 32,000 liters of petrol is used daily, it fails in 60 days. How much petrol can be used daily with out the supply ever failing?