High Desert Ranger
Well-Known Member
- Joined
- Aug 8, 2007
- Messages
- 247
- Age
- 51
- City
- High Desert, Calif
- Vehicle Year
- 1987
- Transmission
- Manual
You must make a payment of $1432.02 10 years from today. To prepare for this payment, you will make 5 equal payments, beginning today and for the next 4 quarters, in a bank that pays a nominal interest rate of 12%, quarterly compounding. How large must each of the 5 payments be?
I have figured out how to solve it writting it out on paper but am confused on how to solve it only using a calculator.
I have figured out how to solve it writting it out on paper but am confused on how to solve it only using a calculator.