Problem on retirement regarding debt

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Reference no: EM13145090

Dubois inc wishes to accumulate $1,300,000 by dec 31, 2020 to retire bonds outstanding. the company deposits $200,000 on december 31, 2010, which will earn interest 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 $1,300,000 is available at the end of 2020. (The quarterly deposits will also earn at a rate of 10%, compounded quarterly.

Reference no: EM13145090

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