If you want to withdraw $35,000 at the end of four years, how much should you deposit now in an account that pays 11% interest compounded quarterly? See the accompanying cash flow diagram. $35.000 2 Years 1 3 P=?

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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If you want to withdraw $35,000 at the end of four years, how much should you deposit now in an account that pays 11% interest
compounded quarterly? See the accompanying cash flow diagram.
$35,000
1
2
3
Years
P=?
Transcribed Image Text:If you want to withdraw $35,000 at the end of four years, how much should you deposit now in an account that pays 11% interest compounded quarterly? See the accompanying cash flow diagram. $35,000 1 2 3 Years P=?
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