Thomas has made deposits of $800 at the end of every quarter for eleven years. If interest is 5% compounded annually, how much will Thomas have accumulated seven years after the last deposit? Thomas will have accumulated S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Thomas has made deposits of $800 at the end of every quarter for eleven years. If interest is 5% compounded annually, how much will Thomas have accumulated seven years after the last deposit? Thomas will have accumulated S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 24P

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