Question: 7. Suppose that you need a $30,000 for down payment in 6 years. If you deposit $X per quarter into an account paying 15%(4), what

7. Suppose that you need a $30,000 for down payment in 6 years. If you deposit $X per quarter into an account paying 15%(4), what is $X? Assume that all deposits are made at the beginning of every quarter. a. $763.92 b. $822.71 c. $885.34 d. $946.15 8. How long will it take $2,000 per month (annuity-due) invested at 9%(12) to make a $40,000 fund? Find the correct equation. a. 40,000 = 2,000$]75% b. 40,000 = 2,000$ r[9% c. 40,000 = 2,000$n19% d. 40,000 = 2,0008n1.75%

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