Beginning three months from now, you want to be able to withdraw $3,300 each quarter from your bank account to cover college expenses over the next four years. If the account pays .73 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next four years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Amount needed
Beginning three months from now, you want to be able to withdraw $3,300 each quarter from your bank account to cover college expenses over the next four years. If the account pays .73 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next four years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Amount needed
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 13PROB
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