you have to make a payment of 156139 in 10 years, Financial Management

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you have to make a payment of 156139 in 10 years

You have to make a payment of $1,561.39 in 10 years. To get the money for this payment, you will make 5 equivalent deposits, starting today and for the following 4 quarters, in a bank that pays a nominal interest rate of 14% with quarterly compounding. How large must every of the 5 payments be?

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Financial Management: you have to make a payment of 156139 in 10 years

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Financial Management: you have to make a payment of 156139 in 10 years

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