A couple plans to start a business of their own in 6 years. They plan to have Php100,000 cash available at the time for this purpose. To raise the Php100,000, a fund has been started that earns interest at 8% compounded quarterly. What would the quarterly payments into this fund?
A couple plans to start a business of their own in 6 years. They plan to have Php100,000 cash available at the time for this purpose. To raise the Php100,000, a fund has been started that earns interest at 8% compounded quarterly. What would the quarterly payments into this fund?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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![A couple plans to start a business of their own in 6 years. They plan to have Php100,000
cash available at the time for this purpose. To raise the Php100,000, a fund has been started
that earns interest at 8% compounded quarterly. What would the quarterly payments into
this fund?
Response](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F16a40c40-f72c-45de-a161-f8f6566db840%2Fe69d90cc-a1e2-4115-9757-4d7115cecb1f%2F69m51i_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A couple plans to start a business of their own in 6 years. They plan to have Php100,000
cash available at the time for this purpose. To raise the Php100,000, a fund has been started
that earns interest at 8% compounded quarterly. What would the quarterly payments into
this fund?
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