Parnell have begun long-term strategic planning

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Reference no: EM131866057

The management team at Jackson & Parnell have begun long-term strategic planning. The company has two revenue streams. From the business side, the company has made a commitment to deposit $9802 at the end of each quarter, increasing the amount by $289 with each subsequent deposit, into an account paying a nominal annual interest rate of 8% compounded quarterly. The company would like to make the deposits for 4 years.

In addition, the company has a rental business. The company would like to deposit $645 from the rental business, increasing the amount deposited by 2% each subsequent quarter. The rental income will be deposited into the same account for 4 years. How much will Jackson & Parnell have in the account at the end of the 4 years?

Note: The first deposit occurs at the end of the first quarter.

Reference no: EM131866057

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