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A company needs $48,000 in 4 years to replace two trucks. Find the amount it must deposit...

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Finance

Acompany needs $48,000 in 4 years to replace two trucks. Find theamount it must deposit at the end of each quarter in a fund earning6% compounded quarterly.

Answer & Explanation Solved by verified expert
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We are given the following informationr600n4T4FV4800000We need to solve the following equation to arrive at therequired FVHere T is the frequency of interest in a yearSo at the end of each quarter we    See Answer
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