You have decided to set aside a fixed amount every quarter in order to have $15,000 available for a major home renovation project in 3 years. If the money is invested at 5% interest per year,...


You have decided to set aside a fixed amount every quarter in order to have $15,000 available for a major home renovation project in 3 years.  If the money is invested at 5% interest per year, compounded quarterly, how much should be deposited quarterly to reach your goal?


Give the answer correctly to 2 decimal places.




Jun 07, 2022
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