Minu deposits $950 at the end of each quarter for 6 years in an account that earns 1.8% per year compounded quarterly. At the end of 6 years she has $32 501.04. /hat would the amount of the annuity be if she doubles the time period to 12 ears?
Minu deposits $950 at the end of each quarter for 6 years in an account that earns 1.8% per year compounded quarterly. At the end of 6 years she has $32 501.04. /hat would the amount of the annuity be if she doubles the time period to 12 ears?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
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