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Crystal made periodic deposits into a savings account at the end of every month for 2 years. The investments were earning 7.50% compounded quarterly and
Crystal made periodic deposits into a savings account at the end of every month for 2 years. The investments were earning 7.50% compounded quarterly and grew to $13,000.00 at the end of 2 years.
Crystal made periodic deposits into a savings account at the end of every month for 2 years. The investments were earning 7.50% compounded quarterly and grew to $13,000.00 at the end of 2 years. a. Calculate the size of the month-end deposits. $527.56$503.97$433.88$482.28 b. How long will it take for the $13,000.00 to accumulate to $40,985.00 if the interest rate remained the same and he continued making the same month-end deposits throughout the term? 4 years and 7 months 5 years and 7 months 3 years and 7 months 3 years and 10 monthsStep by Step Solution
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