On the day she was born, Ella's grandparents deposited $2500 into a savings account to help fund
Question:
On the day she was born, Ella's grandparents deposited $2500 into a savings account to help fund her education. To that account they made equal deposits on each of Ella's birthdays, including her 18th birthday today. If the investment has earned 4% compounded quarterly, and the balance in the account today is $24,458.81, how much did her grandparents deposit on each of Ella's birthdays?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
At the end of 18 years the investments total FV will be the combined FV of the annuity plus the ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
2+ Reviews
10+ Question Solved
Related Book For 
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
