What are quarterly payments that will be provided to pat

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Reference no: EM131990380

1. You have the opportunity to purchase an investment that pays $510 a month for 24 years. The account has an interest rate of 6.8% compounded monthly. How much is the investment worth today if the payment and interest are applied at the beginning of each month?

2. Pat has been offered an investment that make payments every quarter in perpetuity at a discount rate of 5% compounded quarterly. If Pat pays $73,309 for the investment, what are the quarterly payments that will be provided to Pat?

3. Julie has been offered monthly payments of $720 in perpetuity for an investment in a company. If Julie wants to earn a nominal rate of 7.1% compounded monthly on her investment, how much should she invest into the company?

Reference no: EM131990380

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