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A company wants to accumulate 80.000$ at the end of 6 years. It starts quarterly payments in a bank account which pays J4=8%.a) Find the
- A company wants to accumulate 80.000$ at the end of 6 years. It starts quarterly payments in a bank account which pays J4=8%.a)
- Find the size of quarterly payments.
- b) After 4 years, bank decreases the rate to j4= 6%. Find the size of quarterly payments for last 2 years required to meet the 80.000$ goal?
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Financial Markets And Institutions
Authors: Frederic S. Mishkin
2nd Edition
0321014650, 9780321014658
