help!! Hector needs $13,000 in 7 years. (a) What amount should he deposit at the end of each quarter at 7% compounded quarterly so that he will have his $13,000? (b) Find Hector's quarterly deposit if the money is deposited at 6% compounded quarterly. (a) If the interest is 7% compounded quarterly, he should deposit $ (Round up to the nearest cent.) at the end of each quarter.

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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help!! Hector needs $13,000 in 7 years. (a) What amount should he deposit at the end of each quarter at 7% compounded quarterly so that he will have his $13,000? (b) Find Hector's quarterly deposit if the money is deposited at 6% compounded quarterly. (a) If the interest is 7% compounded quarterly, he should deposit $ (Round up to the nearest cent.) at the end of each quarter.
Hector needs $13,000 in 7 years.
(a) What amount should he deposit at the end of each quarter at 7% compounded quarterly so that
he will have his $13,000?
(b) Find Hector's quarterly deposit if the money is deposited at 6% compounded quarterly.
(a) If the interest is 7% compounded quarterly, he should deposit $
(Round up to the nearest cent.)
at the end of each quarter.
Transcribed Image Text:Hector needs $13,000 in 7 years. (a) What amount should he deposit at the end of each quarter at 7% compounded quarterly so that he will have his $13,000? (b) Find Hector's quarterly deposit if the money is deposited at 6% compounded quarterly. (a) If the interest is 7% compounded quarterly, he should deposit $ (Round up to the nearest cent.) at the end of each quarter.
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