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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 39
Solve this application problems. Round to the nearest cent.
Katherine Wysong was injured when she fell on ice at work. Her employer's workers compensation insurance paid for her medical bills and must also pay her $5000 per quarter for the next 6 years. Find the lump sum that must be deposited into an investment earning 4% per year compounded quarterly needed to make the payments. ____________
Katherine Wysong was injured when she fell on ice at work. Her employer's workers compensation insurance paid for her medical bills and must also pay her $5000 per quarter for the next 6 years. Find the lump sum that must be deposited into an investment earning 4% per year compounded quarterly needed to make the payments. ____________
Explanation
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Verified
There are 
periods.
The interest rate p...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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