Solved: To get the money for this payment you will make 5 equal, Business Management

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To get the money for this payment you will make 5 equal

You must make a payment of $1,000 in 10 years. To get the money for this payment, you will make 5 equal deposits, beginning today and for the following 4 quarters, in a bank that pays a nominal interest rate of 5% with quarterly compounding. How large must each of the 5 payments be?

$94.20
$103.42
$137.02
$124.72
$113.56

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Business Management: To get the money for this payment you will make 5 equal

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