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Cyrus deposits $744.88 each quarter into an annuity account for his child's college fund. He wishes to accumulate a future value of $75,000 in
Cyrus deposits $744.88 each quarter into an annuity account for his child's college fund. He wishes to accumulate a future value of $75,000 in 18 years. Assuming an APR of 3.6%, how much of the $75,000 will Cyrus ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary.
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Frank Hodge
9th edition
290-1259222138, 1259222136, 978-1259222139
