Stan wants to have $80,000 available in four years. What size quarterly deposits does Stan have...

Stan wants to have $80,000 available in four years. What size quarterly deposits does Stan have to make into an account that pays 12.8% annual interest (APR), compounded quarterly, to accomplish his goal? Assume the first deposit is made in one quarter.

$1,744.52

$4,135.95

$6,466.64

$3,906.64

Holly wants to have $40,000 available in year 2024. Holly plans to make annual deposits into an account paying 12.3% (APR) in years 2019 through 2021. What size annual deposits does Holly need to make to accomplish her goal?

$9,414.55

$8,345.91

$11,819.88

$13,303.65

Expert Solution

The answers are as follows:

jeff jeffy answered 2 years ago

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