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Engineering economic analysis [1] (10 pts) Jon Snow wants to make equal end-of-quarter deposits to his savings account so that at the end of 10

Engineering economic analysis

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[1] (10 pts) Jon Snow wants to make equal end-of-quarter deposits to his savings account so that at the end of 10 years he would have $200,000 in the account. If the account earns 7% interest compounded monthly, how much should he deposit at the end of each quarter? [Note: In the formula, 'r' is the nominal interest rate per year, 'i' is the effective interest rate per payment period, 'C' is the number of interest periods per payment period, and 'K' is the number of payment periods per year]

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