Answer:
total amount deposit at end of every 6 month is $445.37
Explanation:
Future value required= 4000
Total 6 months Period in 4 years (n) = 4*2 = 8
Interest rate 6.56% or 0.656 compounded Semiannual
semiannual interest rate (r) =0.0656/2= 0.0328
Future value of annuity formula = P *{ (1+r)^n - 1 } / r
4000 = P*(((1+0.0328)^8)-1)/0.0328
4000= P* 8.98
P = $ 445.37
total amount deposit at end of every 6 month is $445.37
