Question
Stan wants to have $80,000 available in four years. What size quarterly deposits does Stan have to make into an account that pays 12.8% annual
Stan wants to have $80,000 available in four years. What size quarterly deposits does Stan have to make into an account that pays 12.8% annual interest (APR), compounded quarterly, to accomplish his goal? Assume the first deposit is made in one quarter.
$1,744.52
$4,135.95
$6,466.64
$3,906.64
Holly wants to have $40,000 available in year 2024. Holly plans to make annual deposits into an account paying 12.3% (APR) in years 2019 through 2021. What size annual deposits does Holly need to make to accomplish her goal?
$9,414.55
$8,345.91
$11,819.88
$13,303.65
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