Priestly Engineers wants to save $145,000 to buy some new equipment two years from now. The plan is to set aside an equal amount of money on the first day of each quarter starting today. The
firm can earn a 5.5% rate of return. How much does the firm have to save each quarter to achieve
Their goal?
A) $17,084.43
B) $17,036.35
C) $17,270.60
D) $17,308.67
E) $17,421.18
Correct Answer:
Verified
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