If you have $10,000 today, and save $12,000 per quarter year at the end of the quarter while earning an annual interest rate of 5%, how many quarters would it take to accumulate $100,000?

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
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Number of quarters

If you have $10,000 today, and save
$12,000 per quarter year at the end of
the quarter while earning an annual
interest rate of 5%, how many quarters
would it take to accumulate $100,000?
Transcribed Image Text:If you have $10,000 today, and save $12,000 per quarter year at the end of the quarter while earning an annual interest rate of 5%, how many quarters would it take to accumulate $100,000?
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