Nihad has $27,910 in his savings account and wants this to accumulate to $100,000 fora condominium down payment. Suppose he plans to make deposits of $1,250 at thebeginning of every three months into this account which earns 3.57% compoundedsemi-annually. How long will it take to accumulate the $100,000?Choose calculator mode: BGNEnter the future value as a positive value in the FV box below.Enter PV and PMT as positive or negative values based on FV being positive.Report N as a whole number.P/Y = 4C/Y = 2N=I/Y = 3.57PV = $ -27,910PMT= $ -1,250FV = $ 100,000Report your answer in years and months as whole numbers below.Your answer must be consistent with the value of N you enteredabove whether correct or incorrect. This question will be marked P/Y = 4C/Y = 2N=I/Y = 3.57PV = $-27,910PMT= $1,250FV = $ 100,000Report your answer in years and months as whole numbers below.Your answer must be consistent with the value of N you enteredabove whether correct or incorrect. This question will be markedusing the value displayed in the N answer box above.If years is an exact integer like "7 years", then enter 7 foryears and 0 for months. You must enter a value in each box forfull marks.It will takeSubmit Questionyears andmonths.

The number of periods(nper) refers to the time consumed by the borrower to clear the loan amount to…

Nihad has $27,910 in his savings account and wants this to accumulate to $100,000 for a condominium down payment. Suppose he plans to make deposits of $1,250 at the beginning of every three months into this account which earns 3.57% compounded semi-annually. How long will it take to accumulate the $100,000? Choose calculator mode: BGN Enter the future value as a positive value in the FV box below. Enter PV and PMT as positive or negative values based on FV being positive. Report N as a whole number. P/Y = 4 C/Y = 2 N= I/Y = 3.57 PV = $ -27,910

Nihad has $27,910 in his savings account and wants this to accumulate to $100,000 for a condominium down payment. Suppose he plans to make deposits of $1,250 at the beginning of every three months into this account which earns 3.57% compounded semi-annually. How long will it take to accumulate the $100,000? Choose calculator mode: BGN Enter the future value as a positive value in the FV box below. Enter PV and PMT as positive or negative values based on FV being positive. Report N as a whole number. P/Y = 4 C/Y = 2 N= I/Y = 3.57 PV = $ -27,910

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 34P

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