Question

If Porthos wants $25,000 after 8 years to make a down payment on a home, how much does he need to invest every quarter, into an account that pays 2% compounded quarterly?

How much will Athos pay quarterly

All i have is this and im not sure what im doing wrong exactly.
Plz help.
25,000 = m (1 + 0.02 / 4 over 0.02/4) 4*8 -1
12500= m (1+0.02/4)^32-1
12500=m (1.005)^32-1
12501= m (1.005)^32
12501=m 32.16

Answer 1

I first answered you here:
https://www.jiskha.com/questions/1820653/if-porthos-wants-25-000-after-8-years-to-make-a-down-payment-on-a-home-how-much-does-he

You clearly did not like my correct answer, and you posted again, making Damon
doing it all over again obtaining the same answer.
https://www.jiskha.com/questions/1820658/if-porthos-wants-25-000-after-8-years-to-make-a-down-payment-on-a-home-how-much-does-he

Now you are posting the same question again!!!!!!

Answer 2

My apologies, but, there are 3 parts to the question. numerator, denominator and then fully figuring out how what they will pay quarterly. :/

Answer 3

Ive tried this problem multiple times and still am unable to figure out how to calculate the final answer to the last part of the 3 step question.

Answer 4

numerator: m(1.173)-1
denominator: 0.005
answer: $107.42
hope this helps.