Videotech specializes in online security software development. It wants to have $65 million available in 3 years to pay stock dividends. How much money must the company set aside now in an account that earns interest at a rate of 12% per year, compounded quarterly? Solve using (a) tabulated factors, and (b) a single-cell spreadsheet function.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Videotech specializes in online security software
development. It wants to have $65 million available
in 3 years to pay stock dividends. How much
money must the company set aside now in an account
that earns interest at a rate of 12% per year,
compounded quarterly? Solve using (a) tabulated
factors, and (b) a single-cell spreadsheet
function.

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