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Suppose that starting today, you make deposits of size 400 at the beginning of each quarterly period for the next 40 years. Using a nominal
Suppose that starting today, you make deposits of size 400 at the beginning of each quarterly period for the next 40 years. Using a nominal annual interest rate of 8% compounded quarterly, find the future value (i.e. value at the end of 40 years) of these deposits. Give your answer as a decimal rounded to two places (i.e. X.XX)
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