I found this question online and but don’t know the answer. Could someone please advise if I have correctly done calculated? I am practicing time value questions to master them as were getting them wrong initially.
Q: Paul Hauser deposits $15,000 on Jan 1st and Jul 1st every year for 8 years. The account pays an interest rate of 5.2% per year, compounding quarterly. At the end of the eighth year, Hauser’s deposit is closest to:
I put the calculator at the “beginning mode” and used the values: PV=0, Pmt= -$15,000, I/Y= 2.6, N=16 and getting an answer of “B” $300,600. Is it correct?