Question
A company must pay a $304,000 settlement in 3 years. (a) What amount must be deposited now at 4% compounded semiannually to have enough money
A company must pay a $304,000 settlement in 3 years.
(a) What amount must be deposited now at 4% compounded semiannually to have enough money for the settlement?
(b) How much interest will be earned?
(c) Suppose the company can deposit $100,000 now in an account that pays interest continuously. What interest rate would they need to accumulate the entire $304,000 in 3 years?
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Control And Audit Of Minicomputer Systems
Authors: British Computer Society
1st Edition
0471261866, 978-0471261865
