Lauren wants to save $300,000 to buy a restaurant 10 years from now. How much should she deposit
each quarter if the interest rate is 8% compounded quarterly?

$6444.14 would be deposited quarterly

Step-by-step explanation:

We would apply the formula for determining future value involving deposits at constant intervals. It is expressed as

S = R[{(1 + r)^n - 1)}/r][1 + r]

Where

S represents the future value of the investment.

R represents the regular payments made(could be weekly, monthly)

r = represents interest rate/number of interval payments.

n represents the total number of payments made.

From the information given,

S = $300000

r = 0.08/3 = 0.027

n = 3 × 10 = 30

Therefore,

300000 = R[{(1 + 0.027)^30 - 1)}/0.027][1 + 0.027]

300000 = R[{(1.027)^30 - 1)}/0.027][1.027]

300000 = R[{(2.224 - 1)}/0.027][1.027]

300000 = R[{(1.224)}/0.027][1.027]

300000 = R[45.33][1.027]

300000 = 46.55391R

R = 300000/46.55391

R = 6444.14

the answer will be

pretty sure 750 each month!

step-by-step explanation: