Homework Answers
nominal rate=((1+6%)^(1/4)-1)*4=5.8695%
use financial calculator as
PV=-4940
N=6*4=24 quarters
PMT=5000*8%/4=100
I/Y=5.8695/4=1.4674
Click CPT
Click FV=4155.36 IS ANSWER
the above is answer..
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