Tony hippwaist wants to have 966793 in his savings account, Ask an Expert

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Tony Hippwaist wants to have $966,793 in his savings account in six years. Tony opened his savings account by depositing $10,000. Tony intends to make equal deposits at the beginning of every three months for the next six years. Tony will earn 20% interest compounded quarterly on all deposits with the bank.

Calculate the amount of each equal quarterly deposit that Tony must make in order to have $966,793 in his account in six years.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9945082

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