A worker deposits $500 at the beginning of each quarter into an account that earns 5% compounded quarterly. The total interest earned at the end of 30 years is . (Round answer to the nearest whole number. No comma or space. Do not write the $ sign.)

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.49TI: Nathaly deposited $12,500 in her bank account where it will earn 4% simple interest. How much...
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A worker deposits $500 at the beginning of each quarter into an account that earns
5% compounded quarterly.
The total interest earned at the end of 30 years is
. (Round answer to the nearest whole number. No comma or
space. Do not write the $ sign.)
Transcribed Image Text:A worker deposits $500 at the beginning of each quarter into an account that earns 5% compounded quarterly. The total interest earned at the end of 30 years is . (Round answer to the nearest whole number. No comma or space. Do not write the $ sign.)
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