An investor needs $11.000 in 12 years. (a) How much must be deposited into a fund at the end of each quarter at 5% compounded quarterly for there to be enough money in the fund? (b) Calculate the investor's quarterly deposit if the money is deposited at 7.8% compounded quarterly. Round both to the nearest penny.

Answer rating: 100% (QA)

To calculate the quarterly deposits required to accumulate 11000 in 12 years we can use the formula ... View the full answer