Thank you.Homework Answers
Interest per quarter = 1.5% i.e. 6%/4
Periods = 12 i.e. 3x4
Amount to be deposited = $76000 / (1.015)12 = $63565.44
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Problem 04.048 Equivalence When PP < CP How much would your parents have to...
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please not on excel this is all the info i have to the problem 2. Mrs....
please not on excel
this is all the info i have to the problem
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Problem 04.048 Equivalence When PP < CP How much would your parents have to deposit each month into an account that grows at a rate of 6% per year compounded quarterly if they want to have $76,000 at the end of year 3 to cover part of your college expenses? Assume no interperiod compounding. Parents have to deposit $ each month.
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this is all the info i have to the problem
2. Mrs. Raad is celebrating today her 38th birthday. She is planning to retire when she is 64 years old. To maintain a certain living standard she wants each monthly retirement income to have the same purchasing power as $4,200 has today. Inflation is expected to be 175 percent monthly from today forward. She will get her first monthly retirement pay at the end of the...
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