A company is going to set up a oerpetuity to withdraw $ 150 for miscellaneous expenses each quarter. Money in this account cat earn 2% compunded quarterly. They will not withdraw the first payment until 1 year from today, how much is needed in account today to grow to be what is needed in 1 year

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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A company is going to set up a oerpetuity to withdraw $
150 for miscellaneous expenses each quarter. Money in
this account cat earn 2% compunded quarterly. They
will not withdraw the first payment until 1 year from
today, how much is needed in account today to grow to
be what is needed in 1 year
Transcribed Image Text:A company is going to set up a oerpetuity to withdraw $ 150 for miscellaneous expenses each quarter. Money in this account cat earn 2% compunded quarterly. They will not withdraw the first payment until 1 year from today, how much is needed in account today to grow to be what is needed in 1 year
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