Question 24

It is now January 1. You plan to make a total of 14 deposits of $10,000 each, one every 3 months with the first payment being made today. The bank pays a nominal interest rate of 9% but uses quarterly compounding. How much your account with the bank be if you leave the money in the bank to be withdrawn all in 13 years from today?

Do not use the $ sign. Use commas to separate thousands. Use to decimals. Round to the nearest dollar. For example if you obtain $1,432.728 then enter 1,433; if you obtain $432.00 then enter 432

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