You have a bank account that earns 6 apr on a quarterly, Financial Management

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You have a bank account that earns 6 apr on a quarterly

You have a bank account that earns 6% APR on a quarterly basis. You expect to receive three annual payments of $500.00 starting today. How much are these annual payments worth today?

(Hint: be certain to use the correct annual interest rate…it is not 6%)

Answer: _______________

How much are these annual payments worth three years from today?

Answer: ________________

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Financial Management: You have a bank account that earns 6 apr on a quarterly

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Financial Management: You have a bank account that earns 6 apr on a quarterly

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