Originally Posted by
blaskjack 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.