Suppose that you would like to have $25,000 to use as a
Chapter 0, Problem 48(choose chapter or problem)
Suppose that you would like to have $25,000 to use as a down payment for a home in five years by making regular deposits at the end of every three months in an annuity that pays 7.25% compounded quarterly. a. Determine the amount of each deposit. Round up to the nearest dollar. b. How much of the $25,000 comes from deposits and how much comes from interest?
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