To ensure that funds are available to repay the principal at maturity, a borrower deposits $2000 each

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To ensure that funds are available to repay the principal at maturity, a borrower deposits $2000 each year for three years. If interest is 6% compounded quarterly, how much will the borrower have on deposit four years after the first deposit was made?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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