Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 02 Jan 2018 My Price 4.00

number of compounding

31.      How much must you deposit at the end of each quarter in an account that pays a

nominal  interest  rate  of  20  percent,  compounded  quarterly,  if  at  the  end   of five years you want $10,000 in the account? (Hint: In working with the compound interest tables when solving this  problem,  you  need  to  adjust  the  interest  rate and the number of compounding periods to reflect quarterly, rather than annual, compounding.)

 

Answers

Maurice Tutor
(5)
Status NEW Posted 02 Jan 2018 11:01 PM My Price 4.00

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