Suppose that a couple plans to set up an ordinary annuity with R100 000 inheritance they received. What is the amount of the quarterly payments they will receive for the next 6 years (while their children are in university) if the account pays 7% per annum, compounded quarterly?
Answers
Answered by
0
Answer:
hey mate here your answer plz give me thanks and brainlist answer...plz.. plz plz plz
Explanation:
present value = 100,000 (negative because it's money going out).
future value = 0
number of quarters = 6 years * 4 = 28
interest rate = 7% per year / 4 = 1.75% per quarter
payments are made at the end of the quarter in the first analysis.
payments are made at the beginning of the quarter in the second analysis.
results were obtained by clicking on PMT after all inputs were made.
payments are positive because it's money coming in
Similar questions