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Lada Lada
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6 years ago
Robert Bernard deposited $1000.00 in a trust account on the day of his son's birth and every three months thereafter. If interest paid is 8% compounded quarterly, what will the balance in the trust account be before the deposit is made on the son's twenty-first birthday?
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Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
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6 years ago
Sn (due)   = 1000 (1.02) = 1000(213.8666068)(1.02) = $218 143.94
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