Question

Ingrid wants to buy a $22.000 in 7 years. How much money must she deposit the end of each cure paying 55 compounded quatory s
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Amount to be deposited at the end of each quarter is calculated using the PMT function as follows:

=PMT(rate,nper,pv)

=PMT(5.4%/4,7*4,-22000)

=948.78

Add a comment
Know the answer?
Add Answer to:
Ingrid wants to buy a $22.000 in 7 years. How much money must she deposit the...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT