Victor French made deposits of $5,200 at the end of each quarter to Book Bank, which pays 8% interest compounded quarterly. After 5 years, Victor made no more deposits. What will be the balance in the account 4 years after the last deposit? (Use the Toble and Table 12.1) (Do not round intermediate calculations. Round your answer to the nearest cent.)
Victor French made deposits of $5,200 at the end of each quarter to Book Bank, which pays 8% interest compounded quarterly. After 5 years, Victor made no more deposits. What will be the balance in the account 4 years after the last deposit? (Use the Toble and Table 12.1) (Do not round intermediate calculations. Round your answer to the nearest cent.)
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 15PT: Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest,...
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