About the no annual compounding

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Reference no: EM131856158

No annual Compounding

A) You plan to make 5 deposits of $1000 each, one every 6 months, with the first payment being made in 6 months. You will then make no more deposits. If the bank pays 4% nominal interest, compounded semiannually, how much will be in your account after 3 years?

B) One year from today you must make a payment of $ 10,000. To prepare for this payment, you plan to make two equal quarterly deposits ( at the end of quarters 1 and 2 ) in a bank that pays 4% nominal interest compunded quarterly. How large must each of the two payments be?

Please provide the answer using excel format.

Reference no: EM131856158

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