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Culver wishes to accumulate 1248000 by December 31 2030 to retirement bonds outstanding.The company deposits 192000 on december 31 2020 which earns interest at 8%
Culver wishes to accumulate 1248000 by December 31 2030 to retirement bonds outstanding.The company deposits 192000 on december 31 2020 which earns interest at 8% compound quarterly to help in the retirement debt. In addition the company wants to know how much should be deposited at the end of each quarter for 10 years to ensure that 1248000 is available at the end of 2030.The quarterly deposit will also earn at a rate of 8% compound quarterly
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