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Andrew deposits a fixed quarterly amount into an annuity account for his child's college fund. He wishes to accumulate a future value of $60,000 in
Andrew deposits a fixed quarterly amount into an annuity account for his child's college fund. He wishes to accumulate a future value of $60,000 in 15 years. Assuming an APR of 3.3% compounded quarterly, how much of the $60,000 will Andrew ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary.
Amount Andrew deposits:
Interest earned:
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