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Hi I’m confused about these questions can you help me please?

Hi I’m confused about these questions can you help me please?

PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN:9781337117005
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter2: Using Financial Statements And Budgets
Section: Chapter Questions
Problem 5FPE
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Hi I’m confused about these questions can you help me please?
PART C: SAVING FOR THE FUTURE You and your best friend have decided that you are going to go an African Safari once you have graduated from college. You estimate that this trip of a lifetime will cost $12,000. You decide that you will start investing for your trip now. You will be investing money for 4 years in account with an interest rate of 6.15% compounded quarterly. a) How much will your quarterly payments be? (AP-3) PV PMT FV Rate Periods Compounding b) What will your total investment be after 4 years? (TH-3) = = = = = 6.15% Amount: c) How much interest have they earned on their investment? (AP-2) KN: 12 AP: /10 TH: 13
Transcribed Image Text:PART C: SAVING FOR THE FUTURE You and your best friend have decided that you are going to go an African Safari once you have graduated from college. You estimate that this trip of a lifetime will cost $12,000. You decide that you will start investing for your trip now. You will be investing money for 4 years in account with an interest rate of 6.15% compounded quarterly. a) How much will your quarterly payments be? (AP-3) PV PMT FV Rate Periods Compounding b) What will your total investment be after 4 years? (TH-3) = = = = = 6.15% Amount: c) How much interest have they earned on their investment? (AP-2) KN: 12 AP: /10 TH: 13
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