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You would like to contribute to a savings account over the next 3 years in order to accumulate enough money to take a nice vacation.
You would like to contribute to a savings account over the next years in order to accumulate enough money to take a nice vacation. Assuming the savings account earns an annual interest rate of compounded quarterly, how much will you accumulate in three years by depositing $ at the end of each of the next quarters, beginning months from now? Show your calculations.
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