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Mario is making quarterly contributions of $150 at the end of each quarter to his savings account which pays interest at the APR of 2.4%
Mario is making quarterly contributions of $150 at the end of each quarter to his savings account which pays interest at the APR of 2.4% compounded quarterly. (a) If he makes 54 contributions, how much money will he have? Round to 2 decimals.
(b) If he leaves this money in the bank for another 10 years without making any more contributions at an increased APR of 4.0% at the same compounding, how much money will he have? Round to 2 decimals.
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