Present Value Computation Paul Jefferson made a deposit into his savings account three years ago, and earned interest at an annual rate of eight percent. The deposit accumulated to $30,000. How much was initially deposited assuming that the interest was compounded (a) annually, (b) semiannually, and (c) quarterly? Use Excel or a financial calculator for computation. Round answers to the nearest dollar. (a) Annually (b) Semiannually $ (c) Quarterly $ 0 0 0

Present Value Computation Paul Jefferson made a deposit into his savings account three years ago, and earned interest at an annual rate of eight percent. The deposit accumulated to $30,000. How much was initially deposited assuming that the interest was compounded (a) annually, (b) semiannually, and (c) quarterly? Use Excel or a financial calculator for computation. Round answers to the nearest dollar. (a) Annually (b) Semiannually $ (c) Quarterly $ 0 0 0

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 15E

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