To establish a "rainy day" cash reserve account, a certain company deposits $14,000 of its profit at the end of each quarter into a money market account that pays 1.65% interest compounded quarterly. (Round your answers to the nearest cent.)
To establish a "rainy day" cash reserve account, a certain company deposits $14,000 of its profit at the end of each quarter into a money market account that pays 1.65% interest compounded quarterly. (Round your answers to the nearest cent.)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 3STP
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To establish a "rainy day" cash reserve account, a certain company deposits $14,000 of its profit at the end of each quarter into a
How much (in $) will the account be worth in 3 & 1/2 yrs?
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