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
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
Related questions
Question
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F68be6c8c-ed19-4ee5-9b39-1655baf1000f%2F5ccf7422-e0ba-4d39-9c89-121cb37856b4%2Flep8s9m_processed.png&w=3840&q=75)
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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