Top Posters
Since Sunday
Home Q & A Board Science-Related Homework Help Mathematics
New Topic  
reync89 reync89
wrote...
Go to Answer
Posts: 144
Rep: 0 0
A year ago
Four years from now, Tim and Justine plan to take a year's leave of absence from their jobs and travel through Asia, Europe, and Africa. They want to accumulate enough savings during the next four years so they can withdraw $3000 at each month-end for the entire year of leave. What amount must they pay into the fund at the end of every calendar quarter for the next four years to reach their goal? The planning assumptions are that their savings will earn 6% compounded quarterly for the next four years and 4.2% compounded monthly during the fifth year.
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
Read 43 times
1 Reply
Replies
Answer verified by a subject expert
carolyne254carolyne254
wrote...
#1
Posts: 143
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

reync89 Author
wrote...

A year ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Liarec
wrote...

Yesterday
Thank you, thank you, thank you!
jamesbove
wrote...

2 hours ago
You make an excellent tutor!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  806 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 1197
  
 372
  
 388
Your Opinion
Which of the following is the best resource to supplement your studies:
Votes: 292
Previous poll results: Which 'study break' activity do you find most distracting?