Mathematics, 14.09.2019 08:30 squirt3747
Mr. chang wants to retire in 10 years. he deposits $650.00 every three months into his retirement investment account. if the account's interest rate is 7.8% compounded quarterly, how much will he have at the end of 5 years, when 20 quarterly deposits of $650.00 have been made?
give answer in us dollars and cents rounded to the nearest cent (do not enter "$" sign)
Answers: 2
![p[\frac{(1+r)^{n}-1}{r} ]](/tpl/images/0231/1373/554a4.png)
![650[\frac{(1+0.0195)^{20}-1}{0.0195} ]](/tpl/images/0231/1373/9f070.png)
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Mr. chang wants to retire in 10 years. he deposits $650.00 every three months into his retirement in...
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