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5) Michael has set a goal to save $100,000 in a savings account that earns 3.5% compounded quarterly. a) How much must he deposit at

5) Michael has set a goal to save $100,000 in a savings account that earns 3.5% compounded quarterly. a) How much must he deposit at the end of every 3 months for twelve years? (6) b) How much interest will he earn? (3)

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