Question
You make a series of quarterly deposits every quarter starting at the end Quarter 1 and ending at the end of Quarter 36. The first
You make a series of quarterly deposits every quarter starting at the end Quarter 1 and ending at the end of Quarter 36. The first deposit is $1,100, and each deposit increases by $500 each Quarter (Q2 = $1,600; Q3 =$2,100…). The nominal annual interest rate is 8%, and is compounded daily.
What is the Future Value of these deposits at the end of Quarter 36? Assume there are 30.4167 days per month.
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To calculate the future value of these deposits at the end of Quarter 36 we can use the formula for ...
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Fundamentals of Corporate Finance
Authors: Berk, DeMarzo, Harford
2nd edition
132148234, 978-0132148238
