Cena deposits a certain amount of money into his family’s savings account at the beginning of each quarter for the next 4 years. He wishes to have $100,000.00 after 4 years. The interest rate is 8% compounded quarterly. How much does he need to deposit at the beginning of each quarter? Create an amortization table.
Cena deposits a certain amount of money into his family’s savings account at the beginning of each quarter for the next 4 years. He wishes to have $100,000.00 after 4 years. The interest rate is 8% compounded quarterly. How much does he need to deposit at the beginning of each quarter? Create an amortization table.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Cena deposits a certain amount of money into his family’s savings account at the beginning of each quarter for the next 4 years. He wishes to have $100,000.00 after 4 years. The interest rate is 8% compounded quarterly. How much does he need to deposit at the beginning of each quarter? Create an amortization table.
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