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Your grandfather started his own business 52 years ago. He opened a savings account at the end of his third month of business and contributed
Your grandfather started his own business 52 years ago. He opened a savings account at the end of his third month of business and contributed $x. Every three months since then, he faithfully saved another $x. His savings account has earned an average rate of 4.5 percent annually. Today, his account is valued at $364,209.11. How much did your grandfather save every three months?
a) $425.15
b) $428.67
c) $431.09
d) $443.13
e) $462.25
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