Question: A small foundry agrees to pay $290,000 two years from now to a supplier for a given amount of coking coal. The foundry plans to

 A small foundry agrees to pay $290,000 two years from now

A small foundry agrees to pay $290,000 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 $290,000. If the account pays 10.9% APR compounded monthly, how much must be deposited every three months? ue stocks Firm maretto growth stocks O A $39,484 OB. $42.774 OC $36,193 OD. $32,003 terprise

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!