Solar Co. needs to have $200 million accumulated to fund health insurance payments for its retirees.
Will Solar Co. have enough accumulated at the end of 3 years if it deposits $165 million today if compounding occurs semi-annually with an annual rate of 6%?

Question

Solar Co. needs to have $200 million accumulated to fund health insurance payments for its retirees. 
Will Solar Co. have enough accumulated at the end of 3 years if it deposits $165 million today if compounding occurs semi-annually with an annual rate of 6%?

Quizplus · Accepted Answer

The Answer of Solar Co. needs to have $200 million accumulated to fund health insurance payments for its retirees. 
Will Solar Co. have enough accumulated at the end of 3 years if it deposits $165 million today if compounding occurs semi-annually with an annual rate of 6%?

Solar Co Needs to Have $200 Million Accumulated to Fund Health