Question
One year from today, you must make a payment of 1.500.000TL. To prepare for this payment, you plan to make 3 equal quarterly deposits,
One year from today, you must make a payment of 1.500.000TL. To prepare for this payment, you plan to make 3 equal quarterly deposits, in 3, 6, and 9 months, in a bank account that pays 32 percent interest, compounded quarterly. How large must each of the payments be?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
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