Question
Linda is saving to buy a vacation home in 15 years. She currently has saved $88,917 and wants to have enough for an all-cash offer
Linda is saving to buy a vacation home in 15 years. She currently has saved $88,917 and wants to have enough for an all-cash offer of $377,902. If Linda makes equal quarterly contributions to her savings account at the end of each quarter and she can earn 2.30% on savings, how much must she deposit each quarter to meet her goal? Linda will make her first deposit one quarter from today.
Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals. Enter numerical answers as a positive number rounded to 2 decimal places (###.##)
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