What is the future value of dewey investment

Reference no: EM13201824

Bob Bryan made deposit of $10,000 at the end of each quarter to Lion Bank, which pay 89% interest compounded quarterly. What will be the amount's balance 4 years after the last deposit?

1) Dewey Cheatam invests $3,500 at the beginning of each quarter for 10 years at a rate of 11% compounded daily. What is the future value of Dewey's investment?

2) In 6 years and 3 months, the firm of Dewey, Cheatam and Howe will have to repay a $70,000 bond they have recently issued. Assume a 7 3/4% rate of interest compounded semiannually. How much are they going to be paying each quarter to be able to have the sum of $70,000 at the end of the 6 Year 3 month term?

Reference no: EM13201824

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