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Having trouble finding interest earned. Thanks! Jane is saving money so that she will have $5,000 in 6 years. She plans to make payments at
Having trouble finding interest earned. Thanks!
Jane is saving money so that she will have $5,000 in 6 years. She plans to make payments at the end of each quarter into an account paying interest at an annual nominal rate of 7.6% compounded quarterly. A) How much is each of her payments? Round your answer to 2 decimal places. 166.37 B) How much interest will Jane earn? Use the payment rounded to two decimal places for this calculation. Round your answer to 2 decimal places. 1.90
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