Present Value Computation Paul Jefferson made a deposit into his savings account three years ago, and earned interest at an annual rate of eight percent. The deposit accumulated to $30,000. How much was initially deposited assuming that the interest was compounded (a) annually, (b) semiannually, and (c) quarterly? Use Excel or a financial calculator for computation. Round answers to the nearest dollar. (a) Annually (b) Semiannually $ (c) Quarterly $ 0 0 0
Present Value Computation Paul Jefferson made a deposit into his savings account three years ago, and earned interest at an annual rate of eight percent. The deposit accumulated to $30,000. How much was initially deposited assuming that the interest was compounded (a) annually, (b) semiannually, and (c) quarterly? Use Excel or a financial calculator for computation. Round answers to the nearest dollar. (a) Annually (b) Semiannually $ (c) Quarterly $ 0 0 0
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 15E
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![Present Value Computation
Paul Jefferson made a deposit into his savings account three years ago, and earned interest at an annual rate of eight percent. The deposit accumulated to $30,000. How much was
initially deposited assuming that the interest was compounded (a) annually, (b) semiannually, and (c) quarterly?
Use Excel or a financial calculator for computation. Round answers to the nearest dollar.
(a) Annually
$
(b) Semiannually $
(c) Quarterly $
Check
0
0
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe0f9f1cd-94f8-4461-b246-9a291a8f5fd7%2F813f55ad-ddef-44f8-b09b-03013b38d7b7%2Fzbkoc1f_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Present Value Computation
Paul Jefferson made a deposit into his savings account three years ago, and earned interest at an annual rate of eight percent. The deposit accumulated to $30,000. How much was
initially deposited assuming that the interest was compounded (a) annually, (b) semiannually, and (c) quarterly?
Use Excel or a financial calculator for computation. Round answers to the nearest dollar.
(a) Annually
$
(b) Semiannually $
(c) Quarterly $
Check
0
0
0
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