In order for you to obtain $70,000 to purchase a guitar in 6 years, how much must be deposited at the end of each quarter at 6% annual interest compounded quarterly? $2224.69 $2444.69 $4244.70 $3762.13

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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In order for you to obtain $70,000 to purchase a guitar in 6 years, how much must be deposited
at the end of each quarter at 6% annual interest compounded quarterly?
$2224.69
$2444.69
$4244.70
$3762.13
Transcribed Image Text:In order for you to obtain $70,000 to purchase a guitar in 6 years, how much must be deposited at the end of each quarter at 6% annual interest compounded quarterly? $2224.69 $2444.69 $4244.70 $3762.13
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