carlos Contributed equal deposit at the end of every month for four years into an investment fund he then decided to stop making payments and left the money in the fund to grow for another three years the fan was earning 4.81% compounded monthly for the entire period and then accumulated amount at the end of the term was $80,000 a. calculate the amount in the fund at the end of the four years. b. calculate the size of the periodic deposit into the fund.
carlos Contributed equal deposit at the end of every month for four years into an investment fund he then decided to stop making payments and left the money in the fund to grow for another three years the fan was earning 4.81% compounded monthly for the entire period and then accumulated amount at the end of the term was $80,000 a. calculate the amount in the fund at the end of the four years. b. calculate the size of the periodic deposit into the fund.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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carlos Contributed equal deposit at the end of every month for four years into an investment fund he then decided to stop making payments and left the money in the fund to grow for another three years the fan was earning 4.81% compounded monthly for the entire period and then accumulated amount at the end of the term was $80,000 a. calculate the amount in the fund at the end of the four years. b. calculate the size of the periodic deposit into the fund.
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