Hello, Steve!

To make $20,000 in 3 years, Sally decides to make 6 equal deposits

in an account at 6-monthly intervals starting now.

If the interest rate is 11% per annum compounded semi-annually,

how much is each deposit?

This is an Annuity problem.

If you're not familiar with the formula, you're in deep weeds . . .

Annuity formula: .

. . where: .

We have: .

. . and we might as well solve for

So we have: .

Therefore, Sally should deposit$2903.58each time.