How much should he deposit each quarter

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1. John wishes to make a quarterly deposit into his savings account so that at the end of 10 years the account balance will be $10,000. If the account earns 6% annual interest, compounded quarterly, how much should he deposit each quarter?

2. To raise money for a new business, a friend asks you to loan her some money. She offers to pay you $3000 at the end of 4 years. How much should you give her now if you want to earn 12% interest per year on your money?

Reference no: EM131980929

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