f you deposit $1,000 now, $3,000 four years from now followed by five quarterly deposits decreasing by $500 per quarter at an interest rate of 12% per year compounded quarterly, how much money will you have in you account 10 years from now? A. $22,820 B. $23,600 C. $18,285 D. $24,046
f you deposit $1,000 now, $3,000 four years from now followed by five quarterly deposits decreasing by $500 per quarter at an interest rate of 12% per year compounded quarterly, how much money will you have in you account 10 years from now? A. $22,820 B. $23,600 C. $18,285 D. $24,046
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
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If you deposit $1,000 now, $3,000 four years from now followed by five quarterly deposits decreasing by $500 per quarter at an interest rate of 12% per year compounded quarterly, how much money will you have in you account 10 years from now?
- A. $22,820
- B. $23,600
- C. $18,285
- D. $24,046
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