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Math Help - saving plan exercise

  1. #1
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    saving plan exercise

    hi everyone, i spent many hour trying to solve it but my solutions were everytime wrong. the deadline to submit this exercise in in 4 hours, so if someone can help me i will be very pleased. thanks to everyone in advance.

    sorry guys i didnt know
    Last edited by blaskjack; November 27th 2011 at 05:42 PM.
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  2. #2
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    Re: saving plan exercise

    Quote Originally Posted by blaskjack View Post
    hi everyone, i spent many hour trying to solve it but my solutions were everytime wrong. the deadline to submit this exercise in in 4 hours, so if someone can help me i will be very pleased. thanks to everyone in advance.

    this is the exercise:

    How much money you need to save at the beginning of each quarter for the next 10 years, if
    you like to receive a regular ten days income in the amount of $ 500 (at the beginning of the
    payment period) for the next four years. The interest rate is 4% p. a. during the whole period
    (14 years) and the bank calculates interest at a monthly basis.
    from rule #6 ...

    Teachers expect questions that form part of an assessment that contributes towards the final grade of a student to be the work of that student and not the work of others. For that reason, MHF policy is to not knowingly help with such questions.
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