Aidan deposits $1000 at the end of each quarter in an account that pays 5.25% per year, compounded quarterly. If he does this for 25 years, how much will be in the account?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
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Aidan deposits $1000 at the end of each quarter in an account that pays
5.25% per year, compounded quarterly. If he does this for 25 years, how much
will be in the account?
Transcribed Image Text:Aidan deposits $1000 at the end of each quarter in an account that pays 5.25% per year, compounded quarterly. If he does this for 25 years, how much will be in the account?
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