Find selling price PV, per $1,000 maturity value, of bond. (Suppose twice-yearly interest payments.)
3 year, 4.385% bond, with a yield of 4.465%
Meg's pension plan is the annuity with the guaranteed return of 6% per year (compounded quarterly). She would like to retire with the pension of $20,000 per quarter for 15 years. If she works 27 years before retiring, how much money should she and employer deposit every quarter?