You would like to have $7,000.00 in 14 years for a special vacation following graduation by making deposits at the end of each quarter in an annuity that pays 5.5% compounded quarterly. How much money should you deposit at the end of every quarter? How much of the $7,000.00 comes from deposits and how much comes from interest? of the $7,000.00 comes from your deposits and $ comes from interest, Round to the nearest penny and use rounded values for all future calculations. Calculator
You would like to have $7,000.00 in 14 years for a special vacation following graduation by making deposits at the end of each quarter in an annuity that pays 5.5% compounded quarterly. How much money should you deposit at the end of every quarter? How much of the $7,000.00 comes from deposits and how much comes from interest? of the $7,000.00 comes from your deposits and $ comes from interest, Round to the nearest penny and use rounded values for all future calculations. Calculator
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
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:You would like to have $7,000.00 in 14 years for a special
vacation following graduation by making deposits at the end
of each quarter in an annuity that pays 5.5% compounded
quarterly. How much money should you deposit at the end
of every quarter? How much of the $7,000.00 comes from
deposits and how much comes from interest? of the
$7,000.00 comes from your deposits and $ comes from
interest, Round to the nearest penny and use rounded values
for all future calculations. Calculator
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