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in 8 years (a) What amount should he deposit at the end of each quarter at 6% compounded quarterly so that he will hav (b) Find Hector's quarterly deposit if the money is deposited at 5% compounded quarterly (a) If the interest is 6% compounded quarterly, he should deposit Sat the end of each quarter (Round up to the nearest cent) (b) If the interest is 5% compounded quarterly, he should deposit S at the end of each quarter. (Round up to the nearest cent)

in 8 years (a) What amount should he deposit at the end of each quarter at 6% compounded quarterly so that he will hav (b) Find Hector's quarterly deposit if the money is deposited at 5% compounded quarterly (a) If the interest is 6% compounded quarterly, he should deposit Sat the end of each quarter (Round up to the nearest cent) (b) If the interest is 5% compounded quarterly, he should deposit S at the end of each quarter. (Round up to the nearest cent)

Essentials Of Investments
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
Section: Chapter Questions
Problem 1PS
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Hector needs $10,000 in 8 years (a) What amount should he deposit at the end of each quarter at 6% compounded quarterly so that he will have his S (b) Find Hector's quarterly deposit if the money is deposited at 5% compounded quarterly (a) If the interest is 6% compounded quarterly, he should deposit $ at the end of each quarter (Round up to the nearest cent) (b) If the interest is 5% compounded quarterly, he should deposit S at the end of each quarter. (Round up to the nearest cent.)
Transcribed Image Text:Hector needs $10,000 in 8 years (a) What amount should he deposit at the end of each quarter at 6% compounded quarterly so that he will have his S (b) Find Hector's quarterly deposit if the money is deposited at 5% compounded quarterly (a) If the interest is 6% compounded quarterly, he should deposit $ at the end of each quarter (Round up to the nearest cent) (b) If the interest is 5% compounded quarterly, he should deposit S at the end of each quarter. (Round up to the nearest cent.)
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