One year from today, you must make a payment of 1.500.000TL. To prepare for this payment,...
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One year from today, you must make a payment of 1.500.000TL. To prepare for this payment, you plan to make 3 equal quarterly deposits, in 3, 6, and 9 months, in a bank account that pays 32 percent interest, compounded quarterly. How large must each of the payments be? One year from today, you must make a payment of 1.500.000TL. To prepare for this payment, you plan to make 3 equal quarterly deposits, in 3, 6, and 9 months, in a bank account that pays 32 percent interest, compounded quarterly. How large must each of the payments be?
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To calculate the equal quarterly deposits required to accumulate 1500000 TL in one year we can ... View the full answer
Related Book For
Financial management theory and practice
ISBN: 978-0324422696
12th Edition
Authors: Eugene F. Brigham and Michael C. Ehrhardt
Posted Date:
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