quarterly deposits of $500 made into an account which earned 11% compounded quarterly began on February...
quarterly deposits of $500 made into an account which earned 11% compounded quarterly began on February 1, 2016 and ended on August 1, 2019. determine the amount of a single deposit on February 1, 2016 that would be equivalent to the value of the quarterly deposits.
Homework Answers
Single deposit which would be equivalent to value of quarterly
deposits=500/(11%/4)*(1-1/(1+11%/4)^14)*(1+11%/4)
=5903.50543
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