In: Finance
Imagine Fry knew in advance that he would be frozen for 1000 years and wanted to have $9,999,999,999 when he thaws out. How much would Fry need to deposit in his account paying 2% APR compounded quarterly before falling into the cryogenic freezer?
a. |
$9.47 |
|
b. |
$10.99 |
|
c. |
$13.49 |
|
d. |
$21.66 |
|
e. |
$25.11 |
SEE THE SCREENSHOT. ANY DOUBTS, HAPPY TO HELP YOU. THANK YOU. THUMBS UP PLEASE.
SOLUTION WITH FINANCIAL FORMULA. JUST WRITTEN IN EXCEL