26. We plan to have $1,500,000 in 35 years. We will make quarterly deposits of $1,000 at the end of every 3 months for 25 years and then allow the money to accumulate, without more deposits, at 8% compounded annually for the last 10 years. What monthly compounded nominal rate of return will we have to earn over the 25 years that we will be making the quarterly deposits? O A. 13.482% O B. 12.774% O C. 12.641% D. 11.722%

26. We plan to have $1,500,000 in 35 years. We will make quarterly deposits of $1,000 at the end of every 3 months for 25 years and then allow the money to accumulate, without more deposits, at 8% compounded annually for the last 10 years. What monthly compounded nominal rate of return will we have to earn over the 25 years that we will be making the quarterly deposits? O A. 13.482% O B. 12.774% O C. 12.641% D. 11.722%

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 9PROB

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