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Determine the present worth and future worth of the following investment strategy. Invest $5,000 dollars today and invest $1000 every quarter for the next 3
Determine the present worth and future worth of the following investment strategy.
Invest $5,000 dollars today and invest $1000 every quarter for the next 3 years. Assume that the annual nominal interest is 5%, which is compounded quarterly.
Please write down all relative formulas. Use the table values, do not use Excel. You will probably need to use linear interpolatioN
Write the answer in the following format and with complete solved answer
(i.e. Present worth = 300*(P/A,.02,4) + 1000 (P/F,.02,4) +10000)
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