Question: 1. 2. can pay for the car? A. ( $ 19,012 ) B. ( $ 16,296 ) C. ( $ 13,580 ) D. ( $
1.

2.

can pay for the car? A. \\( \\$ 19,012 \\) B. \\( \\$ 16,296 \\) C. \\( \\$ 13,580 \\) D. \\( \\$ 21,728 \\) A small foundry agrees to pay \\( \\$ 280,000 \\) two years from now to a supplier for a given amount of coking coal. The foundry plans to deposit a fixed amount in a bank account every three months, starting three months from now, so that at the end of two years the account holds \\( \\$ 280,000 \\). If the account pays \6.8 APR compounded monthly, how much must be deposited every three months? A. \\( \\$ 36,255 \\) B. \\( \\$ 32,959 \\) C. \\( \\$ 39,551 \\) D. \\( \\$ 42,847 \\)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
