Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Ingrid wants to buy a $17,000 car in 8 years. How much money must she deposit at the end of each quarter in an account paying 5.3% compounded quarterly so that she will have
enough to pay for her car?
How much money must she deposit at the end of each quarter?
$
(Do not round until the final answer. Then round to the nearest cent as needed.)
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Transcribed Image Text:Ingrid wants to buy a $17,000 car in 8 years. How much money must she deposit at the end of each quarter in an account paying 5.3% compounded quarterly so that she will have enough to pay for her car? How much money must she deposit at the end of each quarter? $ (Do not round until the final answer. Then round to the nearest cent as needed.)
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