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MOCKEXAMMCQ4 We plan to have $1,500,000 in 35 years. We will make quarterly deposits of $1,000 at the end of every 3 months for 25

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MOCKEXAMMCQ4 We plan to have $1,500,000 in 35 years. We will make quarterly deposits of $1,000 at the end of every 3 months for 25 years and then allow the money to accumulate, without more deposits, at 8% compounded annually for the last 10 years. What monthly compounded nominal rate of return will we have to earn over the 25 years that we will be making the quarterly deposits? a. 13.482% b. 11.722% c. 12.774% d. 10.939% e. 12.641%

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