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Find the amount of each deposit of a company

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Reference no: EM132935133

Problem 1: The financial manager of a company wishes to accumulate $126,817 in a type of investment that pays 8.18% per annum with tetramestral capitalization. He needs to make deposits in equal amounts during 4 tetramesters. Find the amount of each deposit.

Problem 2: The foreign students need $1,975 each month for 5 months to meet their personal expenses. Their parents are wondering, how much will they have to deposit now so that they can make their withdrawals at the end of each month, if the bank offers them a monthly interest rate of 2.89%?

Reference no: EM132935133

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