Mathematics, 06.07.2019 04:30 MacieKay8865
You wish to have $3000 in 2 years to buy a fancy new stereo system. how much should you deposit each quarter into an account paying 8% compounded quarterly?
Answers: 2
![FV=C\times \left [ \frac{(1+i)^n-1}{i} \right ]\times (1+i)](/tpl/images/0056/6299/b490f.png)
![3000=C\times \left [ \frac{(1+0.02)^8-1}{0.02} \right ]\times (1+0.02)](/tpl/images/0056/6299/88cb2.png)
![C=\frac{3000\times 0.02}{[(1+0.02)^8-1]\times (1+0.02)}](/tpl/images/0056/6299/cf6c0.png)
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