The owner of Oak Hill Squirrel Farm deposits $1,000 at the end of each quarter into an account paying 2.5% compounded quarterly. What is the value at the end of 9 years, 6 months? (Round your answer to the nearest cent.) %2$ Need Help? Read It

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Q: annuities

A: Please refer to the image below

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A: We can evaluate the following as follows

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A: Thanks for the question :)And your upvote will be really appreciable ;)

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A: Please refer to the image below

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A: I am attaching image so that you understand each and every step.

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A: From the given data

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A: Given:

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Q: Jesse purchases a retirement annuity that will pay him $1,500 at the end of every six months for the…

A: 9years +3 years =12 years r=3.5%t=11n=4 Payment received =1500×2×9+600×12×3=27000+21,600=$48,600

Q: unt that

A: In this question, the concept of Compound Interest is applied. Compound Interest Compound interest…

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