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Suppose you plan to make 30 quarterly deposits of $200 into a savings account at the end of each quarter. The savings account pays interest
Suppose you plan to make 30 quarterly deposits of $200 into a savings account at the end of each quarter. The savings account pays interest at an annual rate of 8%, compounded quarterly. How much will you have accumulated in the savings account at the end of the seven and a half-year period? Note: Use tables, Excel, or a financial calculator. ( of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1 ) Multiple Choice $6,000 $8,114 $8,276 $24,469
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