Annuity of value of quarterly deposits

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Reference no: EM131462736

Shamrock Inc. wishes to accumulate $1, 314, 300 by December 31, 2027, to retire bonds outstanding. The company deposits $187, 400 on December 31, 2017, which will earn interest at 10% compounded quarterly, to help in the retirement of this debt. In addition, the company wants to know how much should be deposited at the end of each quarter for 10 years to ensure that $1, 314, 300 is available at the end of 2027. (The quarterly deposits will also earn at a rate of 10%, compounded quarterly.)

Reference no: EM131462736

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