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Danielle made periodic deposits into a savings account at the end of every month for 2 years. The investments were earning 4.80% compounded quarterly and
Danielle made periodic deposits into a savings account at the end of every month for 2 years. The investments were earning 4.80% compounded quarterly and grew to $13,125.00 at the end of 2 years. a. Calculate the size of the month-end deposits. $546.04$522.23$475.15$500.33 b. How long will it take for the $13,125.00 to accumulate to $42,415.00 if the interest rate remained the same and he continued making the same month-end deposits throughout the term? 4 years and 11 months 5 years and 11 months 3 years and 11 months 3 years and 14 months
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