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Please solve problem #3! - already posted #2 2. Suppose you invest $1200 at the end of each year into an account that pays an
Please solve problem #3! - already posted #2
2. Suppose you invest $1200 at the end of each year into an account that pays an annual interest rate of 8% compounded quarterly. How much is in the account after 10 years?
3. Consider the account from Problem #2.
How much would I have to pay into the account to accumulate $100,000 after 10 years? Round your answer to the nearest cent. (Remember that the account pays an annual interest rate of 8% compounded quarterly.)
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