Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you make a deposit into your bank account today. t

You make a deposit into your bank account today. The amount is sufficient for you...

80.2K

Verified Solution

Question

Finance

You make a deposit into your bank account today. The amount is sufficient for you to make 20 quarter-end withdrawals of 8,000 starting in 3 months. How much should you deposit today if you earn an interest rate of 4.8% p.a. compounded monthly? (Correct your answer to the nearest cent without any unit (no need to put $).Do not use "," in your answer. e.g. 20233.12)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Mass percent KHP using and indicator. Please show your work in chemical units, with known and unknown. Show...

Physics
1.2K views

The potential energy of a particle of mass 5 kg moving in xy plane is...

Basic Math
1.2K views

"A polynomial f(r) over an field is irreducible if and only f(x + 1) is...

Basic Math
1.2K views

Clear my cho ce The half life of a certain radioactive material is mass of...

Algebra
1.2K views

Graph the following function Check your result using a graphing calculator f x O A...

Accounting
1.2K views

Hahn Company uses a job-order costing system. Its plantwide predetermined overhead rate uses direct labor-hours...

Accounting
1.2K views

The PVC Company manufactures a high-quality plastic pipe that goes through three processing stages prior...

Accounting
1.2K views

Fillmore, Inc., expects sales of its housing for electric motors to be $87,000, $81,000, and...

Accounting
1.2K views

COTB MC Qu. 6.62 (Algo) Assume a company has variable manufacturing... Assume a conpany has...

Accounting
1.2K views

On January 1, 2007, a company purchased equipment for $80,000 with an estimated 6-year useful...

Accounting
1.2K views

The Central Valley Company has prepared department overhead budgets for budgeted-volume levels before allocations as...

Accounting
1.2K views

Operating leverage Tucker Co. reports the following data: Determine Tucker Co.'s operating leverage. Round your...