Question
*Smith is now 40 years old. Smith is willing to deposit a certain amount of money at the end of each quarter for 25 years.
*Smith is now 40 years old. Smith is willing to deposit a certain amount of money at the end of each quarter for 25 years. Smith wants to receive 6,000 TL quarterly for 15 years from the age of 65, with payments to be made at the end of the period. If the discount rate is taken as 12% per annum, how many TL should Smith have to deposit at the end of each quarter, starting from today, in order to receive the money he wants at the end of every three months after the age of 65?
*A person wants to make a living for 10 years with the interest income by depositing 90.000 TL in the bank. He deposited this money in the bank at an annual interest of 12%. What will be the interest the person will receive at the end of each month?
*The Color Lighting Company borrowed a 10-year term with no payment for the first 15 months for a production facility to be built. Annual interest rate is 12%. If the loan amount from the bank is 90.000 TL, how much will the installments with equal amounts to be paid to the bank at the end of each month for 10 years?
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