the beginning of each month. If interest on the account is 5% compounded quarterly, Laura wants to accumulate $150,000 in her bank account by depositing $1000 at for how long does Laura have to deposit the money?

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 23E
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GENERAL MATHEMATICS FOR SENIOR IGH SCHOOL
for how long does Laura have to deposit the money?
the beginning of each month. If interest on the account is 5% compounded quarterly,
Laura wants to accumulate $150,000 in her bank account by depositing $1000 at
4.)
6 James deposited $150 at the beginning of each month for two years into his savings
account, For the next four years he did not make any more deposits, leaving the
money in the account. The bank charges 4% interest compounded monthly. What
will the balance be after 12 years?
Transcribed Image Text:GENERAL MATHEMATICS FOR SENIOR IGH SCHOOL for how long does Laura have to deposit the money? the beginning of each month. If interest on the account is 5% compounded quarterly, Laura wants to accumulate $150,000 in her bank account by depositing $1000 at 4.) 6 James deposited $150 at the beginning of each month for two years into his savings account, For the next four years he did not make any more deposits, leaving the money in the account. The bank charges 4% interest compounded monthly. What will the balance be after 12 years?
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