Betty DeRose wants to have $138,873 in five years. Betty intends to accumulate that amount by...

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Question

Betty DeRose wants to have $138,873 in five years. Betty intends to accumulate that amount by...

Betty DeRose wants to have $138,873 in five years. Betty intends to
accumulate that amount by making equal quarterly cash deposits at the
beginning of every three months for five years into a bank account
that pays 20% interest compounded quarterly.

Calculate the amount of each quarterly deposit.

business accounting

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Answer 1

Answer #1

The answer has been presented in the supporting sheet. All the parts has been solved with detailed answer.

А в с Answer We have to calculate the amount of quarterly payment Quarterly payment = Future value/((1+i)^n-1)/i)(1+i)) = 138

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Answer 2

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