3. Kyle needs to have 39,000,000 for retirement in 10 years. His account earns 3%. a. how much would he need to deposit in the account each quarter? b. how much total money will he put into the account? c. How much total interest will he earn?

3. Kyle needs to have 39,000,000 for retirement in 10 years. His account earns 3%. a. how much would he need to deposit in the account each quarter? b. how much total money will he put into the account? c. How much total interest will he earn?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 1PROB

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3. Kyle needs to have 39,000,000 for retirement in 10 years. His account earns 3%.

a. how much would he need to deposit in the account each quarter?

b. how much total money will he put into the account?

c. How much total interest will he earn?

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