To help with her retirement savings, Isabel invests in an ordinary annuity that earns 5.4% interest, compounded quarterly. Payments will be made at the end of each quarter.
How much money does she need to pay into the annuity each quarter for the annuity to have a total value of 96,000 pesos after 19 years?
Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas.
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here