What is the value x that must be deposited into the account

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Reference no: EM131027200

A father wants to set up a bank acount that will pay his daughter $18,000 at the end-of-quarter (EOQ) 4 and $32,000 at EOQ 8. He will fund this account by making quarterly payments of $x from the present (time zero) through EOQ 7. a) Draw a cash-flow diagram from the father's viewpoint. b) If the quarterly percentage rate is 2%, what is the value $x that must be deposited into the account?

Reference no: EM131027200

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