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QUESTION
Your employer makes quarterly (end of period) payments of $30,000 into a pension fund earning 12 percent per year compounded quarterly for 10 years.
Your employer makes quarterly (end of period) payments of $30,000 into a pension fund earning 12 percent per year compounded quarterly for 10 years. How much interest will the fund have earned in 10 years?
AnswerYour employer makes quarterly (end of period) payments of $30,000 into apension fund earning 12 percent per year compounded quarterly for 10 years.How much interest will the fund have...