ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Nominal and effective interest Joe Franklin is planning to retire in 16 years. He wishes to deposit a regular amount every six months until he retires, so that, beginning one year following his retirement, he will receive annual payments of $60,000 for the next 10 years. How much must he deposit if the interest rate is 7% compounded quarterly? Solve only using the factor table please
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