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The Olfter contractors inc., are saving $2000 at the end of every 3 months in order to purchase a new paving machine in six years.
The Olfter contractors inc., are saving $2000 at the end of every 3 months in order to purchase a new paving machine in six years. Their savings certificates pay 6% p.a. compounded quarterly. How much will be the total interest earned? Using simple annuity.
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Introduction To Mathematical Finance Discrete Time Models
Authors: Stanley R. Pliska
1st Edition
1557869456, 9781557869456
