Question
Dubois Inc. wishes to accumulate $1,354,500 by December 31, 2024, to retire bonds outstanding. The company deposits $229,200 on December 31, 2014, which will earn
Dubois Inc. wishes to accumulate $1,354,500 by December 31, 2024, to retire bonds outstanding. The company deposits $229,200 on December 31, 2014, which will earn interest at 10% compounded quarterly, to help in the retirement of this 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 $1,354,500 is available at the end of 2024. (The quarterly deposits will also earn at a rate of 10%, compounded quarterly.) (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) tables are on http://www.chegg.com/homework-help/questions-and-answers/answer-following-questions-related-dubois-inc-use-tables--1-dubois-inc-617-100-invest-comp-q8302367
I did it how the expert did it on that problem and got an answer on my problem of $11848 rounded up, sadly that's wrong according to the homework.
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