On the day their grandson Jeff was born, Mr. and Mrs. Zolob began an investment plan to
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On the day their grandson Jeff was born, Mr. and Mrs. Zolob began an investment plan to help pay for his education. The grandparents contributed $50 at the start of every month, beginning on the day of Jeff's birth and continuing up to his 19th birthday. (Note that no contribution was made on his 19th birthday.) The investment earned 6% compounded quarterly. How much was the investment worth when it was presented to Jeff as his 19th birthday present?
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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