A man makes an investment every 3 months at a nominal annual interest rate of 28%, compounded

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A man makes an investment every 3 months at a nominal annual interest rate of 28%, compounded quarterly. His first investment was $100, followed by investments increasing $20 each 3 months. Thus, the second investment was $120, the third investment $140, and so on. If he continues to make this series of investments for a total of 20 years, what will be the value of the investments at the end of that time?
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Engineering Economic Analysis

ISBN: 9780195168075

9th Edition

Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle

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