Samuelson Engines Wants to Save $750,000 to Buy Some New

question 61

Multiple Choice

Samuelson Engines wants to save $750,000 to buy some new equipment six 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 4.75 percent on its savings. How much does the firm have to save each quarter to achieve its goal?

• A)$26,872.94
• B)$26,969.70
• C)$27,192.05
• D)$27,419.29
• E)$27,911.08

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