You deposit $500 into a bank account that has an annual interest rate of 5.5%, compounded quarterly.
Question:
a. How much money will you have after 5 yr if you never deposit more money?
b. How much money will you have after 5 yr if you deposit an additional $150 every 3 mo after the initial $500?
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a u 0 500 and u n 1 0055 ...View the full answer
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Related Book For 
Discovering Advanced Algebra An Investigative Approach
ISBN: 978-1559539845
1st edition
Authors: Jerald Murdock, Ellen Kamischke, Eric Kamischke
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