Brittany is saving for a future renovation project that is estimated to cost $36,000. How much will Brittany have to deposit at the beginning of every three months in order to accumulate $36,000 in 3 years? Interest is 5.53% compounded quarterly. Round the answer for PMT to two decimal places.
Brittany is saving for a future renovation project that is estimated to cost $36,000. How much will Brittany have to deposit at the beginning of every three months in order to accumulate $36,000 in 3 years? Interest is 5.53% compounded quarterly. Round the answer for PMT to two decimal places.
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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Transcribed Image Text:Question 6
Brittany is saving for a future renovation project that is estimated to cost $36,000. How
much will Brittany have to deposit at the beginning of every three months in order to
accumulate $36,000 in 3 years? Interest is 5.53% compounded quarterly. Round the
answer for PMT to two decimal places.
Choose BGN or END ?
P/Y =
C/Y =
N =
I/Y =
%
PV = $
PMT = $
FV = $
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