A man is planning to retire in 30 years. He wishes to deposit a regular amount every
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A man is planning to retire in 30 years. He wishes to deposit a regular amount every three months until he retires so that, beginning one year following his retirement, he will receive annual payments of $60,000 for the next 10 years. How much must he deposit if the interest rate is 8% compounded quarterly?
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Answered By
Aun Ali
I am an Associate Member of Cost and Management Accountants of Pakistan with vast experience in the field of accounting and finance, including more than 17 years of teaching experience at university level. I have been teaching at both undergraduate and post graduate levels. My area of specialization is cost and management accounting but I have taught various subjects related to accounting and finance.
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