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Ahmad has always dreamed of opening a caf by the seaside. He decides he will save to help open the caf by depositing money in
Ahmad has always dreamed of opening a caf by the seaside. He decides he will save to help open the caf by depositing money in an ordinary annuity that earns 3.6% interest, compounded quarterly. Deposits will be made at the end of each quarter. How much money will he need to deposit into the annuity each quarter for the annuity to have a total value of $24,000 after 7 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas. s0 s
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