Question
Heather Enterprise wants to accumulate a total sum of $581,000 in a few years. They want to deposit $104,800 today and make additional $11,680 deposits
Heather Enterprise wants to accumulate a total sum of $581,000 in a few years. They want to deposit $104,800 today and make additional $11,680 deposits at the end of every three months thereafter. How many additional deposits and how long will it take to accumulate the $581,000 if interest rate is 5.29% compounded semi-annually?
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Intermediate Accounting
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
11th edition
978-0538467087, 9781111781262, 538467088, 1111781265, 978-0324659139
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