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To finance her familys vacation in 5 years, Tamara saves $575 at the END of every quarter in an account that pays 3.75 % compounded
To finance her familys vacation in 5 years, Tamara saves $575 at the END of every quarter in an account that pays 3.75 % compounded annually. (5 marks) a) What is the balance in the account in 5 years? (2) b) If she decided to wait another year for the vacation and continues the quarterly deposits for another year, how much will she have in the account in 6 years? (2) c) How much more money will she have for the vacation by waiting a full year?
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