Business, 25.03.2021 04:30 alyssarenae1215
A small foundry agrees to pay $420,000 three years from now to a supplier for a given amount of coking coal. The foundry plans to deposit a fixed amount in a bank account every three months, starting three months from now, so that at the end of three years the account holds $420,000. If the account pays 8.5% APR compounded monthly, how much must be deposited every three months?
a. $31,069.
b. $28,473.
c. $47,943.
d. $35,389.
Answers: 1
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A small foundry agrees to pay $420,000 three years from now to a supplier for a given amount of coki...
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