2. Find the lump sum that must be set aside today to make quarterly payments of $9,000 for 10 years, assuming 8% compounded quarterly. Find the interest
The present value is $113,800.68. The interest earned on this amount over 10 years would be $246,199.32.
The present value is $60,390.72. The interest earned on this amount over 10 years would be $113,800.68.
The present value is $246,199.32. The interest earned on this amount over 10 years would be $113,800.68.
The present value is $33,535.36. The interest earned on this amount over 10 years would be $60,390.72.