Question
You wish to accumulate a total of $ 57,050 for a special purpose exactly 7 years from now. You will make deposits quarterly, with the
You wish to accumulate a total of $ 57,050 for a special purpose exactly 7 years from now. You will make deposits quarterly, with the first one exactly 5 quarters from now and the last one exactly 7 years from now. The savings rate is 11.95 % compounded quarterly. How much total interest does the bank contribute towards your accumulation?
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
