Business, 12.03.2020 05:29 avahrhey24

A small foundry agrees to pay $220,000 two 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 two years the account holds $220,000.

If the account pays 12.5% APR compounded monthly, how much must be deposited every three months?

A) $24,602

B) $27,063

C) $29,523

D) $31,983

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A small foundry agrees to pay $220,000 two years from now to a supplier for a given amount of coking...

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