Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. a company needs $48,000 in 4 years to replace two

A company needs $48,000 in 4 years to replace two trucks. Find the amount it must deposit...

90.2K

Verified Solution

Question

Finance

Acompany needs $48,000 in 4 years to replace two trucks. Find theamount it must deposit at the end of each quarter in a fund earning6% compounded quarterly.

Answer & Explanation Solved by verified expert
3.7 Ratings (707 Votes)
We are given the following informationr600n4T4FV4800000We need to solve the following equation to arrive at therequired FVHere T is the frequency of interest in a yearSo at the end of each quarter we    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What is the number of ATP and ATP equivalents that can be produced via oxidative phosphorylation...

Biology
Q

American Write a proposal that discusses your minority group In it include 1 A 250...

Biology
Q

Which of the following would be considered a selective pressure on birds?The preferences of the...

Biology
Q

Help Lecture 87 Ex 87 2 87 What is the minimum value of t for...

Calculus
Q

points A B C D and E are collinear and in that order Find AC...

Algebra
Q

Which of the following securities is NOT typically intended for sale in the near term?...

Accounting
Q

In 2019, X Company's profits after taxes were $200,000. In 2020, the selling price was...

Accounting
Q

Enabled: Exam 2(Modules 6-8)(i) Help Save & Exit Drive and Stop Inc. has...

Accounting
Q

Carrie Ford started Barton Corporation on October 1,2019. The adjusted trial balance shown below has...

Accounting
Q

Which of the following items will least likely to appear on the balance sheet of...

Accounting
Q

Project #7: Bad Debt Expense Fido's Food Mart Adjusted Trial Balance December 31, 20XX Debits...

Accounting
Q

If you have a question or concern about an investment, where can you go for...

Finance