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A small foundry agrees to pay $220,000 two years from now to a supplier for a given amount of coking coal. The foundry plans to
A small foundry agrees to pay $220,000 two years from now to a supplier for a given amount of coking coal. The foundry plans to deposit a fixed amount in a bank account every three months, starting three months from now, so that at the end of two years the account holds $220,000. If the account pays 8.4% APR compounded monthly, how much must be deposited every three months? O A. $30,634 OB. $25,528 O C. $28,081 OD. $33,187
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