Question
10. A company has one $50,000 payment due 5 years from today. In order to be ready to make this payment this company plans to
10. A company has one $50,000 payment due 5 years from today. In order to be ready to make this payment this company plans to put aside an equal amount in a fund each quarter for the next 5 years. If the fund earns an 8% APR, (compounded quarterly) how much must this company set aside each quarter? (To the nearest whole dollar.) Show the formula
(A) $1,093
(B) $2,058
(C) $3,058
(D) $4,165
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Handbook Of Blockchain Digital Finance And Inclusion
Authors: David Lee, Robert H. Deng
1st Edition
012812282X, 978-0128122822
