Question
Apex Fabricating wants to accumulate $700,000 for an expansion expected to begin in four years.If today Apex makes the first of equal quarterly payments into
Apex Fabricating wants to accumulate $700,000 for an expansion expected to begin in four years.If today Apex makes the first of equal quarterly payments into a fund earning 4.4% compounded monthly, what should the size of these payments be?(Do not round intermediate calculations and round your final answer to 2 decimal places.)
The quarterly payments$
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Investments
Authors: Zvi Bodie, Alex Kane, Alan Marcus, Stylianos Perrakis, Peter
8th Canadian Edition
007133887X, 978-0071338875
