Rebecca is making quarterly contributions of of $250 to her savings account which pays interest at the APR of 6.7%, compounded quarterly. Right after Rebecca makes her 52nd contribution, the bank changes the APR to 7.7% and Rebecca makes 43 more $250 contributions. What is Rebecca's balance right after her last contribution? Submit Question

Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
Publisher:WHITTENBURG
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 14MCQ
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Rebecca is making quarterly contributions of of $250 to her savings account which pays interest at the APR
of 6.7%, compounded quarterly. Right after Rebecca makes her 52nd contribution, the bank changes the
APR to 7.7% and Rebecca makes 43 more $250 contributions. What is Rebecca's balance right after her last
contribution?
$
Submit Question
Transcribed Image Text:Rebecca is making quarterly contributions of of $250 to her savings account which pays interest at the APR of 6.7%, compounded quarterly. Right after Rebecca makes her 52nd contribution, the bank changes the APR to 7.7% and Rebecca makes 43 more $250 contributions. What is Rebecca's balance right after her last contribution? $ Submit Question
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