Question: Please make a step to solve this thank you. An investment of $100,000 is to be used to make payments of $4,000 at the end

Please make a step to solve this thank you. An investment of $100,000 is to be used to make payments of $4,000 at the end of each quarter for as long as possible. If the rate of interest is 5% convertible quarterly, find the size of the smaller final payment if the payment is to be made during the year following the last regular payment.

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!

ABC Corp. is considering leasing an asset from XYZ Corp. Here are the relevant facts: ABC's interest costs are 10% and XYZ's interest costs are 7% Find the Maximum rental that ABC will pay and the...

Please make a step to solve this thank you. An investment of $100,000 is to be used to make payments of $4,000 at the end of each quarter for as long as possible. If the rate of interest is 5%...

PowerPoint Assignment for BUS 401: Principles of Finance You have been asked by a manager in your organization to put together a training program explaining Net Present Value (NPV) and Future Value...

Question 1 [10 marks] Peter buys a 180-day bank bill with a face value of $500 000 at a yield of 2.9% p.a. (simple interest). After 92 days he sells it at a yield of 3.2% p.a. (simple interest). a....

please use formula/inputs to solve answers. thank you. 6) Marie invested $35,000 today in an account that pays 4% annual compound interest. She wants to know how long it will take for her investment...

can any expert help me with the below assignment just only 2 questions ,please read the requirment word by word and be careful about the style of the reference(APA) , file 3.1 is for question...

just only 2 questions ,please read the requirment word by word and be careful about the style of the reference(APA) , file 3.1 is for question 2..BTW,please focus the every step FINANCE SPOTLIGHT...

14. [-/4 Points] DETAILS HARMATHAP12 1.6.040. Complete the problem by using the accompanying gure, which shows a supply function and a demand function. (Assume price is measured in dollars.) p 40 30...

Hotel Majestic is interested in estimating fixed and variable costs so that the company can make more accurate projections of costs and profit. The hotel is in a resort area that is particularly busy...

1. The Ending Balance (31/12/2020) in Plan Assets? 2. The Ending Balance (31/12/2020) in the PBO? 3. The pension expense for fiscal 2020 in the P&L? The accounts of the Marco Company for the year...

You recently made a $ 2 0 , 0 0 0 down payment to buy a $ 3 6 0 , 0 0 0 home and financed the balance; the loan terms include annual payments for a thirty year term at an interest rate of six...

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...