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Riley wants to have $ 1 9 8 , 5 9 4 in her savings account in 4 years. Riley opened her savings account with
Riley wants to have $ in her savings account in
years. Riley opened her savings account with a deposit
of $ Riley intends to make equal deposits into the
savings account at the end of every three months for the
next four years. Riley will earn interest compounded
quarterly on all deposits with the bank.
Calculate the amount of each equal quarterly deposit that
Riley must make in order to have $ in her account
in four years.
You will need to use the time value of money table factors
pictured below to answer this question. No credit will be awarded for this question using a means other than these posted table factors to answer this question.
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