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Kaitlyn made periodic deposits into a savings account at the end of every month for 5 years. The investments were earning 7.50% compounded quarterly and
Kaitlyn made periodic deposits into a savings account at the end of every month for 5 years. The investments were earning 7.50% compounded quarterly and grew to $11,625.00 at the end of 5 years. a. Calculate the size of the month-end deposits. $163.74 $160.48 $106.41 $157.33 b. How long will it take for the $11,625.00 to accumulate to $42,610.00 if the interest rate remained the same and he continued making the same month-end deposits throughout the term? 9 years and 2 months 13 years and 2 months 8 years and 2 months 8 years and 4 months
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