4.15 A series of equal quarterly deposits of $1000 extends over a period of three years....

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4.15 A series of equal quarterly deposits of $1000 extends over a period of three years. It is desired to compute the future

business economics

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Answer 1

Answer #1

Quarterly deposits = 1000

N = 3 years

i = 12% compounded monthly

Quarterly interest rate = (1+0.12/12)^3-1

= 0.0303

= 3.03%

Option(D)

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Answer 2

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