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Vanessa wants to accumulate $44,000 in a fund with payments of $1,100 made at the end of every quarter. The interest rate is 7.02% compounded
Vanessa wants to accumulate $44,000 in a fund with payments of $1,100 made at the end of every quarter. The interest rate is 7.02% compounded quarterly. a. How many payments (rounded up to the next payment) will it take to accumulate this amount? 34 payments 20 payments 30 payments 31 payments b. How long will it take to accumulate this amount? 9 years and 9 months 9 years and 4 months 9 years and 9 months 7 years and 9 months
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