Question: Write any formula you use, and explain how you arrive at the answer in your own words. Write the name of any financial function you
Write any formula you use, and explain how you arrive at the answer in your own words.
Write the name of any financial function you use, the inputs to it, and your input entries so I can understand how you got to your solution.
1- You just deposited $2,500 in a bank account that pays a 12% nominal interest rate, compounded quarterly. If you also add another $5,000 to the account one year (12 months) from now and another $7,500 to the account two years from now, draw a time line for the cash flows and calculate how much will be in the account three years (12 quarters) from now?
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