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Molly deposited $26,500 into a fund at the beginning of every quarter for 16 years. She then stopped making deposits into the fund and allowed
Molly deposited $26,500 into a fund at the beginning of every quarter for 16 years. She then stopped making deposits into the fund and allowed the investment to grow for 4 more years. The fund was growing at 3.34% compounded monthly. Adrian deposited $26,500 into a fund at the beginning of every quarter for 16 years. He then stopped making deposits into the fund and allowed the investment to grow for 4 more years. The fund was growing at 3.34% compounded monthly. a. What was the accumulated value of the fund at the end of year 16 ? Round to the nearest cent b. What was the accumulated value of the fund at the end of year 20
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