Question
Ms. Peoria deposits $4,800 into her account at the start of every three-month period (quarterly) for 17 years. If the Oak Lawn Mutual Fund pays
Ms. Peoria deposits $4,800 into her account at the start of every three-month period (quarterly) for 17 years. If the Oak Lawn Mutual Fund pays interest at a rate represented as a 5.2% annual percentage rate (APR), but with quarterly compounding, how much money will be in her account at the end of year 17?
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Financial Markets and Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
5th edition
321280299, 321280296, 978-0321280299
