Homework: Module 3 - Addeb using the Financial Calculat x M MHE Reader x Be usin

Question

Homework: Module 3 - Addeb using the Financial Calculat x M MHE Reader x Be using the Financial Calculat x 0 BA ll Plus| Cash Flows-Nel × e Top-noteh homework help: × CSecure https://newconnect.mheducation.com/flow/connect.html Homework: Module 3 - Added TVM Saved Help Save& Exit Submit Check my work A business is required to payout $25,000 per month for 10 years beginning in 20 years to pensioners. What quarterly contribution will the company need to make for the next 20 years to meet its obligation? Assume money always eams 6% annually (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 5,432.16)) points Monthly payments eBook References Mc Graw Pre 7 of 15 Next >

Explanation / Answer

Answer is  14,819.48

PV ? Rate 6%/12 0.005 NPER 10*12 120 PMT 25000 FV 0 PV(.005,120,25000,0,1) 22,63,095.51

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