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  3. 14. gordon freeman wants to have $32,000 in 5 year

14. Gordon Freeman wants to have $32,000 in 5 years in order to purchase a...

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Accounting

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14. Gordon Freeman wants to have $32,000 in 5 years in order to purchase a new car (a) How much should he deposit today in an account earning 6.4%, compounded quarterly, to have the required amount in 5 years? (b) How much interest will be earned? (c) If he can only deposit $16,000 now, how short of $32,000 will he be? (d) Suppose he can deposit $16,000 now in account that compounds interest continuously, What interest rate would he need to accumulate the $32,000 in 5 years

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