Beginning three months from now, you want to be able to withdraw $3,500 each quarter from your bank account to cover college expenses over the next four years. If the account pays .75 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next four years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Beginning three months from now, you want to be able to withdraw $3,500 each quarter from your bank account to cover college expenses over the next four years. If the account pays .75 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next four years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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
Problem 1PS
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Beginning three months from now, you want to be able to withdraw $3,500 each quarter
from your bank account to cover college expenses over the next four years.
If the account pays .75 percent interest per quarter, how much do you need to have in
your bank account today to meet your expense needs over the next four years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,
32.16.)
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Beginning three months from now, you want to be able to withdraw $3,500 each quarter
from your bank account to cover college expenses over the next four years.
If the account pays .75 percent interest per quarter, how much do you need to have in
your bank account today to meet your expense needs over the next four years?
round intermediate calculations and round your answer to 2 decimal places, e.g.,
32.16.)
ints
(Do not
Skipped
Amount needed
eBook
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