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You have an outstanding liability today that will amount to $250,000 in 2 years. In order to meet this obligation you want to invest a
You have an outstanding liability today that will amount to $250,000 in 2 years. In order to meet this obligation you want to invest a fixed amount every 3 months starting 3 months from today so that in 2 years you will have $250,000. If your investment earns 5.5% APR compounded monthly, how much must be deposited every 3 months?
a. 32 152
b. 28 077
c. 29 998
d. 30 740
e. 29 770
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