Calculate the present value of a retirement fund if you put $1,750 in your savings account at the end of each of each quarter for the next 35 years? Assume that your savings account pays 8% compounded quarterly. O $20,277.13 O $82,030.04 $83,670.64 O None of the answers are correct

Calculate the present value of a retirement fund if you put $1,750 in your savings account at the end of each of each quarter for the next 35 years? Assume that your savings account pays 8% compounded quarterly. O $20,277.13 O $82,030.04 $83,670.64 O None of the answers are correct

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...

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Concept explainers

Effective Interest Rate

The term interest rate can be defined as the amount that is charged by the lender as a percentage on the principal amount. Interest rate which is charged annually is known as annual percentage rate.

Question

Calculate the present value of a retirement
fund if you put $1,750 in your savings
account at the end of each of each quarter
for the next 35 years? Assume that your
savings account pays 8% compounded
quarterly.
O $20,277.13
O$82,030.04
O $83,670.64
O None of the answers are correct

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