1 How much would you need to deposit at the end of each quarter in a...
Homework Answers
Number of periods = 5 * 4 = 20
Rate = 6% / 4 = 1.5%
Future value = Annuity * [(1 + r)n 1] / r
5000 = Annuity * [(1 + 0.015)20 - 1] / 0.015
5000 = Annuity * 23.123667
Annuity = $216.23
The end of the quarter deposit should be $216.23
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