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Frank, who turns 40 today, will deposit $2,500 in his empty retirement account at the end of every three months, with the first deposit coming
Frank, who turns 40 today, will deposit $2,500 in his empty retirement account at the end of every three months, with the first deposit coming three months from now and the final deposit coming on his 50th birthday. There are no other withdrawals or deposits. The nominal interest rate convertible quarterly, is 10%. Find Franks account balance on his 57th birthday.
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