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Please do it correctly, Thankyou in advance Mr. Clark makes a deposit at the beginning of every three months into a savings account that earns
Please do it correctly, Thankyou in advance
Mr. Clark makes a deposit at the beginning of every three months into a savings account that earns interest at 5% compounded quarterly. He saves for nine years, then converts his savings into an annuity that pays him $1,000 at the beginning of every three months for four years. What is the size of the deposit he makes while he is saving? The size of the deposit is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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