at will be the deposit amount for Jane if she wants to buy a car within 7 years with a price of BDT2500000 and the Bank interest rate is 9%? Remember that Jane wants to make those payments in advance of each Quarter.
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If we do not want to risk the money in stocks, we may buy riskless Treasury securities. ... good possibility that a car selling for $15,000 today may cost $16,000 next year. ... value PV in a bank that pays interest at the rate r, then after one year it will become ... is r/12 per month and the compounding occurs 12n times in n years.
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