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a company wants to have $270,000 available in 4 1 2 years for new construction. how much must be deposited at the beginning of each quarter (in $) to reach this goal if the investment earns 10.2% compounded quarterly? (round your answer to the nearest cent.) $

Respuesta :

The amount that should be deposited to each the goal will be $11708.54.

How to illustrate the amount?

From the information, the formula for future value will be:

A = x/i (1 + i)[(1 + I)^n - 1]

A = future value

x = periodic payment

I = interest rate

n = number of payment

A = $270000

I = 0.102/4 = 0.0255

n = 18

Using x as the basis from the formula:

x = (270000 × 0.0255) / (1 + 0.0255) (1 + 0.0255)^18 - 1

= 11708.54

The amount is $1708.54

Learn more about future value on:

brainly.com/question/24703884

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