What regular investment, made at the end of every three months and earning 10% compounded quarterly,...

Question

Question

What regular investment, made at the end of every three months and earning 10% compounded quarterly, would accumulate to $475,000 in 20 years?

Select one:

a. $3,492.86

b. $7,856.83

c. $1,912.37

d. $17,616.21

e. $7,916.67

Answer 1

Answer #1

The regular investment amount is:-

=PMT(rate,nper,pv,fv)

=PMT(10%/4,20*4,,475000)

=1912.37

Answer 2

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