Question
Suppose you wish to accumulate $1,800,000 by December 31, 2030, to retire your student loans and other loans outstanding. You went ahead and deposited $100,000
Suppose you wish to accumulate $1,800,000 by December 31, 2030, to retire your student loans and other loans outstanding. You went ahead and deposited $100,000 on December 31, 2020, which will earn interest at 8% compounded quarterly, to help in the retirement of all this debt. So you want to find out two things:
1. How much will the $100,000 grow to at the end of the 10 years? (Round to even dollars). Enter only the amount - no dollar sign or commas
2. How much extra will be needed in 2030 in order to achieve the goal of $1,800,000? Enter only the amount - no dollar sign or commas
2. Finally, you want to know how much should be deposited at the end of each quarter for 10 years to ensure that $1,800,000 is available at the end of 2030. (The quarterly deposits will also earn at a rate of 8%, compounded quarterly.) (Round to even dollars.)
Please fill in thw blank will give thumbs up
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