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Dear Exparts, Please teach me the following question. You must make a payment of $1,432.02 in 10 years. To get the money for this payment,
Dear Exparts,
Please teach me the following question.
You must make a payment of $1,432.02 in 10 years. To get the money for this payment, you will make 5 equal deposits, beginning today and for the following 4 quarters, in a bank that pays a nominal interest rate of 12% with quarterly compounding. How large must each of the 5 payments be?
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