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You want to go to Hawaii as a graduation gift to yourself. You start investing when you're a Freshman and you begin with a deposit
You want to go to Hawaii as a graduation gift to yourself. You start investing when you're a Freshman and you begin with a deposit of $450. You are able to deposit $400 per quarter over your next 4 years of college. Your investment is earning a 6% nominal interest rate compounded quarterly. How much will you expect to have at the end of your Senior year? Which of the solutions below best represents the proper calculation? A. $450(F/A, 8%, 4) + $400(F/A, 8%, 4) OB. $450(F/P, 8%, 16) + $400(F/A, 8%, 16) C. $450(F/P, 2%, 16) + $400(F/A, 2%, 16) D. $450(F/P, 2%, 4) + $400(F/A, 2%, 4)
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